|
Report Date : |
07.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
BOTSWANA ASH (PTY) LTD |
|
|
|
|
Registered Office : |
Private Bag SOW7 Sowa |
|
|
|
|
Country : |
Botswana |
|
|
|
|
Date of Incorporation : |
25.04.1991 |
|
|
|
|
Com. Reg. No.: |
C03846401112 |
|
|
|
|
Legal Form : |
Limited Liability Company, Limited by shares |
|
|
|
|
Line of Business : |
Production and supply of soda ash and salt |
|
|
|
|
No. of Employees : |
250 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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) |
|
Botswana |
A2 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BOTSWANA - ECONOMIC OVERVIEW
Botswana has maintained one of the world's highest economic
growth rates since independence in 1966. However, economic growth was negative
in 2009, with the industrial sector shrinking by 30%, after the global crisis reduced
demand for Botswana's diamonds. Although the economy recovered in 2010, GDP
growth has again slowed. Through fiscal discipline and sound management,
Botswana transformed itself from one of the poorest countries in the world to a
middle-income country with a per capita GDP of $16,800 in 2012. Two major
investment services rank Botswana as the best credit risk in Africa. Diamond
mining has fueled much of the expansion and currently accounts for more than
one-third of GDP, 70-80% of export earnings, and about one-third of the
government's revenues. Botswana's heavy reliance on a single luxury export was
a critical factor in the sharp economic contraction of 2009. Tourism, financial
services, subsistence farming, and cattle raising are other key sectors.
According to official government statistics, unemployment reached 17.8% in
2009, but unofficial estimates run much higher. The prevalence of HIV/AIDS is
second highest in the world and threatens Botswana's impressive economic gains.
An expected leveling off in diamond production within the next two decades
overshadows long-term prospects. A major international diamond company signed a
10-year deal with Botswana in 2012 to move its rough stone sorting and trading
division from London to Gaborone by the end of 2013. The move may support
Botswana's downstream diamond industry.
Source
: CIA
|
COMPANY REPORTED: |
BOTSWANA ASH (PTY) LTD |
|||
|
Principal Address: |
Private Bag SOW7 Sowa, Botswana |
|||
|
Telephone: |
+267-6213210 |
|||
|
Fax: |
+267-6213213 |
|||
|
Email: |
||||
|
Internet: |
||||
|
Established: |
25/04/1991 |
|||
|
Registration: |
Botswana |
|||
|
VAT number: |
C03846401112 |
|||
|
Legal Form: |
Limited Liability Company, Limited by shares |
|||
|
Stock Listing: |
Not Listed |
|||
|
Workforce: |
2011 |
|
|
|
|
|
250 |
|
|
|
|
Office & Factories |
||||
|
Head offices |
Sua Pan, Sowa, Botswana |
|||
|
Branches |
None |
|||
|
Management/
Directors |
|
|
President/ CEO (1) |
|
|
Name |
Mr. D.A.
Halstead-Cleak |
|
Active in daily business: |
Active |
|
Current Title: |
Chairman |
|
Country of residence |
Botswana |
|
Remarks |
Top Decision Maker |
|
Director (2) |
|
|
Name |
Mr. J. Thamage |
|
Active in daily business: |
Active |
|
Current Title: |
Deputy Chairman |
|
Country of residence |
Botswana |
Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.
No negative information found
|
Company Profile: |
|
|
Nominal Capital |
BWP. 50,000 |
|
Paid in Capital |
BWP. 50,000 |
|
Subscribed Capital |
BWP. 50,000 |
|
Shareholders |
|||
|
Name |
Position |
Amount
|
Ratio |
|
Mr. D.A. Halstead-Cleak |
Chairman |
|
|
|
Mr. J. Thamage |
Deputy Chairman |
|
|
|
Mr. Montwedi Mphathi |
Director |
|
|
|
Mr. D.E.G Bettesworth |
Director |
|
|
|
Mr. C.A.J. Botha |
Director |
|
|
|
Mr. N. Mokgwathi |
Director |
|
|
|
Mr. M.I. Ebrahim |
Director |
|
|
|
Mr. P. Freeman |
Director |
|
|
|
Mr. B. M. Steyn |
Director |
|
|
|
Dr. N. Moeti |
Director |
|
|
|
Mr. D. M. J. Whelan |
Director |
|
|
|
Mr. G. R. Mojaphoko |
Director |
|
|
|
Chlor Alkali Holdings
(CAH) Group |
Shareholder |
|
50.00% |
|
Overnment of Botswana |
Shareholder |
|
50.00% |
|
Total |
|
|
100.00% |
|
|
Terms of
payment |
|
Buying
terms |
30% in
cash, 70% on credit |
|
Selling
terms |
80% in
cash, 20% on credit |
|
Affiliated
Companies |
None |
Na
|
Exchange Rate |
US$ 1 = BWP. 7.82 |
|
Established: |
25/04/1991 |
||||
|
Registration: |
Botswana |
||||
|
VAT number: |
C03846401112 |
||||
|
Legal Form: |
Limited Liability Company, Limited by shares |
||||
|
Stock Listing: |
Not Listed |
||||
|
Workforce: |
2011 |
|
|
|
|
|
|
250 |
|
|
|
|
|
Office & Factories |
|||||
|
Head offices |
Sua Pan, Sowa, Botswana |
||||
|
Branches |
None |
||||
|
Business Activities |
Production and
supply of soda ash and salt |
||||
|
Suppliers |
Various
companies |
||||
|
Customers |
firms
and organizations |
||||
|
|
|
||||
|
Recent
Sales |
BWP. 150,000,000
(2011 Estimated) |
||||
|
Exports |
Neighboring countries |
||||
|
Export
Ratio |
20.0% |
||||
|
Import
Ratio |
60.0% |
||||
|
Domestic
Market Share |
20.0% |
||||
|
Business Premises |
20000 Sft |
|
Type of occupation |
Owned |
|
Location |
The subject is located close to a major road network |
|
Premises used as
|
Offices, Factory |
|
Banking
relationship |
|
|
Main
Banks |
Bank of Botswana |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.87 |
|
UK Pound |
1 |
Rs.87.65 |
|
Euro |
1 |
Rs.74.51 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.