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Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
KAFEENA TRADING & INDUSTRIAL PLC. |
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|
|
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Registered Office : |
Kebele 25 Woreda 16, Bole Subcity, Addis Ababa P. o.
Box 25681 Addis Ababa, |
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|
|
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Country : |
Ethiopia |
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|
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Date of Incorporation : |
2008 |
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|
|
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Legal Form : |
Limited
Corporation |
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|
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Line of Business : |
Subject
operate as dealers in general merchandise |
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|
|
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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) |
|
Ethiopia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ETHIOPIA - ECONOMIC
OVERVIEW
Ethiopia's economy is based on agriculture, which accounts
for 46% of GDP and 85% of total employment. Coffee has been a major export
crop. The agricultural sector suffers from poor cultivation practices and
frequent drought, but recent joint efforts by the Government of Ethiopia and
donors have strengthened Ethiopia's agricultural resilience, contributing to a
reduction in the number of Ethiopians threatened with starvation. The banking,
insurance, and micro-credit industries are restricted to domestic investors,
but Ethiopia has attracted significant foreign investment in textiles, leather,
commercial agriculture and manufacturing. Under Ethiopia's constitution, the
state owns all land and provides long-term leases to the tenants; land use
certificates are now being issued in some areas so that tenants have more
recognizable rights to continued occupancy and hence make more concerted
efforts to improve their leaseholds. While GDP growth has remained high, per
capita income is among the lowest in the world. Ethiopia''s economy continues
on its state-led Growth and Transformation Plan under its new leadership after
Prime Minister MELE's death. The five-year economic plan has achieved high
single-digit growth rates through government-led infrastructure expansion and
commercial agriculture development. Ethiopia in 2013 plans to continue
construction of its Grand Renaissance Dam on the Nile-the controversial
multi-billion dollar effort to develop electricity for domestic consumption and
export
Source
: CIA
|
Registered Name: |
KAFEENA TRADING & INDUSTRIAL PLC. |
|
Requested Name: |
KAFEENA TRADING & IND PLC |
|
Other Names: |
None |
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Physical Address: |
Kebele 25 Woreda 16, Bole Subcity, Addis Ababa |
|
Postal Address: |
P. o. Box 25681 |
|
|
Addis Ababa, |
|
Country: |
Ethiopia |
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Phone: |
251-11-8400912 |
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Cell: |
251-911-991003/991003 |
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Fax: |
251-11-8400912 |
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Email: |
info@kafeena.com |
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Website: |
None |
|
Legal Form: |
Limited Corporation |
|
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Date Incorporated: |
2008 |
|
|
Reg. Number: |
Ethiopia |
|
|
Nominal Capital |
ETB. 200,000 |
|
|
Subscribed Capital |
ETB. 200,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Mr. Sabahaddin Mohammad |
GM |
|
|
None |
Parent company. |
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None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject firm. |
|
None |
Branches of the firm |
|
___________________________________________________________________________ |
|
|
Registered to operate as dealers in general merchandise |
|
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Imports: |
Asia |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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|
|
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Main Customers: |
Local agencies, stoers etc |
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Employees: |
15 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Ethiopia |
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Location: |
Rented premises, 1,500 square feet, |
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Auditors: |
Information not available. |
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Insurance Brokers: |
Information not available. |
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Currency Reported: |
Ethiopian Birr (ETB.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 19.11 Ethiopian Birr |
|
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Fiscal Year End: |
December 31, 2012 |
|
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Inflation: |
According to information given by independent sources, the inflation at December 31st, 2012 was of 13%. |
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|
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||
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Financial Information not Submitted |
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|
|
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|
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Profit and Loss (expressed in ETB.) |
||
|
|
|
2012 |
|
Sales |
|
35,000,000 |
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Bank Name: |
Bank of Abyssinia |
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Branch: |
Ethiopia |
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Comments: |
None |
|
Experiences: |
Good |
None
|
This
information was obtained from outside sources other than the subject company
itself and confirmed the above subject. The
website address provided i.e. www.kafeena.com is not operational. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.96 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.85.33 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.