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Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
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Name : |
GREEN AGE INTERNATIONAL SARL. |
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Registered Office : |
Avenue Burera Kigali |
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Country : |
Rwanda |
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Date of Incorporation : |
13.04.2007 |
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Legal Form : |
Company Limited By Shares |
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Line of Business : |
Import and distribution of pharmaceuticals and all kinds of medical products. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Rwanda |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
RWANDA - ECONOMIC OVERVIEW
Rwanda is a poor rural country with about 90% of the
population engaged in (mainly subsistence) agriculture and some mineral and agro-processing.
Tourism, minerals, coffee and tea are Rwanda's main sources of foreign
exchange. Minerals exports declined 40% in 2009-10 due to the global economic
downturn. The 1994 genocide decimated Rwanda's fragile economic base, severely
impoverished the population, particularly women, and temporarily stalled the
country's ability to attract private and external investment. However, Rwanda
has made substantial progress in stabilizing and rehabilitating its economy to
pre-1994 levels. GDP has rebounded with an average annual growth of 7%-8% since
2003 and inflation has been reduced to single digits. Nonetheless, a
significant percent of the population still live below the official poverty
line. Despite Rwanda's fertile ecosystem, food production often does not keep
pace with demand, requiring food imports. Rwanda continues to receive
substantial aid money and obtained IMF-World Bank Heavily Indebted Poor Country
(HIPC) initiative debt relief in 2005-06. In recognition of Rwanda's successful
management of its macro economy, in 2010, the IMF graduated Rwanda to a Policy
Support Instrument (PSI). Rwanda also received a Millennium Challenge Threshold
Program in 2008. Africa's most densely populated country is trying to overcome
the limitations of its small, landlocked economy by leveraging regional trade.
Rwanda joined the East African Community and is aligning its budget, trade, and
immigration policies with its regional partners. The government has embraced an
expansionary fiscal policy to reduce poverty by improving education,
infrastructure, and foreign and domestic investment and pursuing
market-oriented reforms. Energy shortages, instability in neighboring states,
and lack of adequate transportation linkages to other countries continue to
handicap private sector growth. The Rwandan Government is seeking to become
regional leader in information and communication technologies. In 2010, Rwanda
neared completion of the first modern Special Economic Zone (SEZ) in Kigali.
The SEZ seeks to attract investment in all sectors, but specifically in
agribusiness, information and communications technologies, trade and logistics,
mining, and construction. The global downturn hurt export demand and tourism,
but economic growth has recovered, driven in large part by the services sector,
but inflation has grown. On the back of this growth, government is gradually
ending its fiscal stimulus policy while protecting aid to the poor.
Source
: CIA
Green Age
International Sarl.
ADDRESSES:
Main Address: Avenue Burera
Zip code/City: Kigali, Rwanda
Telephone: +250 78
8303786
Postal address: B.P. 840
Zip code/City: Kigali, Rwanda
E-mail: greenage@rwanda1.com
VAT-No.: 101493079
Profile
Established: 2007
Line of Business: Consumer goods wholesale
Industry
Division: Wholesale
trade
Industry-code
(NACE): 4646 Wholesale of
pharmaceutical goods
Banks: Not
disclosed.
Employees: unknown
CNPJ: -
Board of
Directors:
Director Mohamed
Salim
Public information:
-
Legal form: Company
limited by shares
Incorporation
date: 13.04.2007
Balance sheet
filing date: -
Tax Contributor
Number (CNPJ): -
Legal status: active
Responsible
Register: State Register
of Rwanda
Entry Deleted Name
13.04.2007 Green Age International Ltd.
Entry Deleted Address
active Avenue Burera,
Kigali, Rwanda/RW
Import and
Export:
Import, Export
Payment history:
No complaints on record.
Financial information:
The company is not required to file accounts.
Upon direct approach the manager did not wish to
divulge any information by phone. As per his request, an email was sent. Should
we receive an answer, then we will send you an update.
Exchange rate:
US$
1,00 =
RWD 628,953 - Official rate on 14.08.2013
Main Activities:
The company is engaged in the import and
distribution of pharmaceuticals and all kinds of medical products.
Import: Europe and Asia
Export: Africa
Operations & branches:
At the Avenue Burera, Kigali, we find the registered
address and seat of operations.
Credit to the recommended limit should be acceptable
but should be monitored on a regular basis. However, it is accepted practice to
seek (bank) guarantees when dealing with Rwandan importers.
We are also verifying with the company the address
and bankers details as provided by you.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.51 |
|
|
1 |
Rs.94.98 |
|
Euro |
1 |
Rs.81.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.