|
Report Date : |
29.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
OBF MATERIAUX |
|
|
|
|
Registered Office : |
01 BP 5335 Ouagadougou |
|
|
|
|
Country : |
Burkina Faso |
|
|
|
|
Date of Incorporation : |
19.09.2006 |
|
|
|
|
Legal Form : |
Limited Liability Company, Limited by shares |
|
|
|
|
Line of Business : |
General Traders dealing with building and
construction materials |
|
|
|
|
No. of Employees : |
15 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Burkina faso |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Burkina Faso - ECONOMIC OVERVIEW
Burkina Faso is
a poor, landlocked country that relies heavily on cotton and gold exports for revenue.
The country has few natural resources and a weak industrial base. About 90% of
the population is engaged in subsistence agriculture, which is vulnerable to
periodic drought. Cotton is the main cash crop. Since 1998, Burkina Faso has
embarked upon a gradual privatization of state-owned enterprises and in 2004
revised its investment code to attract foreign investment. As a result of this
new code and other legislation favoring the mining sector, the country has seen
an upswing in gold exploration and production. By 2010, gold had become the
main source of export revenue. Gold mining production doubled between 2009 and
2010. Two new mining projects were launched the third quarter of 2011. Local
community conflict persists in the mining and cotton sectors, but the Prime
Minister has made efforts to defuse some of the economic cause of public
discontent, including announcing income tax reductions, reparations for looting
victims, and subsidies for basic food items and fertilizer. An IMF mission to
Burkina Faso in October 2011 expressed general satisfaction with the measures.
The risk of a mass exodus of the 3 to 4 million Burinabe who live and work in
Cote D'Ivoire has dissipated and trade, power, and transport links are being
restored.
|
Source : CIA |
|
COMPANY REPORTED: |
OBF MATERIAUX |
|||
|
Principal Address: |
01 BP 5335 Ouagadougou,
Burkina Faso |
|||
|
Telephone: |
+226-70369399/78786095 |
|||
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Fax: |
+226-78786095 |
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Email: |
||||
|
Internet: |
None |
|||
|
Established: |
19/09/2006 |
|||
|
Registration: |
Ouagadougou, Burkina
Faso |
|||
|
Legal Form: |
Limited Liability
Company, Limited by shares |
|||
|
Stock Listing: |
Not Listed |
|||
|
Workforce: |
2011 |
|
|
|
|
|
15 |
|
|
|
|
Office & Factories |
|
|||
|
Head offices |
Rue NobaKoom A Oscar,
Ouagadougou, Burkina Faso |
|||
|
Branches |
None |
|||
|
Management/
Directors |
|
|
President/
CEO (1) |
|
|
Name |
Mr.
Hamidou Seone |
|
Active
in daily business: |
Active |
|
Current
Title: |
Managing
Director |
|
Country of residence |
Burkina
Faso |
|
Remarks |
Top Decision Maker |
No negative information found.
|
Company Profile: |
|
|
Nominal Capital |
CFA.
1,000,000 |
|
Paid in Capital |
CFA.
1,000,000 |
|
Subscribed Capital |
CFA.
1,000,000 |
|
Shareholders |
|
||
|
Name |
Position |
Amount |
Ratio |
|
Mr.
Hamidou Seone |
MD |
|
|
|
|
|
|
|
|
Total |
|
|
100.00% |
|
|
Terms
of payment |
|
Buying
terms |
30%
in cash, 70% on 30 day credit |
|
Selling
terms |
80%
in cash, 20% on credit |
|
|
|
|
Suppliers |
Various |
|
Customers |
Construction
firms and organizations |
|
|
|
|
Recent
Sales |
CFA.
328,000,000 (2011 Estimated) |
|
Exports |
None |
|
Export
Ratio |
0.0% |
|
Import
Ratio |
20.0% |
|
Domestic
Market Share |
15.0% |
|
Affiliated Companies |
None |
N/a
|
Exchange Rate |
US$ 1 = CFA. 506.85 |
|
Business Activities |
General
Traders dealing with building and construction materials |
|
Business Premises |
2000 Sft |
|
Type of occupation
|
Leased |
|
Location |
The subject is located
close to a major road network |
|
Premises used as
|
Offices |
|
Banking
relationship |
|
|
Main
Banks |
Ecobank |
|
Credit Check of Subject,
President & CEO (as of report date) |
|
|
Payment Morale: |
In the documents at our disposal
nothing adverse has been shown so far. |
|
CREDIT RATING: |
Financial situation is
average. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.63 |
|
UK Pound |
1 |
Rs.86.18 |
|
Euro |
1 |
Rs.69.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.