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Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
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Name : |
YESHAMBEL MENGESHA LAYHE |
|
|
|
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Registered Office : |
Kebele 24 Sub city, Woreda 19,
Addis Ababa |
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|
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Country : |
Ethiopia |
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Date of Incorporation : |
16.02.2004 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject operate as general traders |
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No. of Employees : |
10 |
RATING & COMMENTS
|
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: YESHAMBEL MENGESHA LAYHE
Requested Name: YESHAMBEL
MENGESHA LAYHE
Other Names: None
Physical Address: Kebele 24 Sub city, Woreda 19,
Addis Ababa
Postal Address: P. o. Box 14967
Addis Ababa
Country: Ethiopia
Phone: 251-911216626
Fax: 251-911216626
Email: None
Website: None
Financial Index as of December 2012 shows subject firm with a medium
risk of credit.
Legal Form: Sole Proprietorship
Date Incorporated: 16-Feb-2004
Reg. Number: Ethiopia
Nominal Capital ETB. 100,000
Subscribed Capital ETB. 100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Yeshambel Mengesha
Layhe Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as general traders
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(30%) and 25-90 days (70%), invoices.
Main Customers: firms
and organizations
Employees: 10
employees.
Vehicles: 2
motor vehicles.
Territory of
sales: Ethiopia
Location: Rented
premises, 1,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Ethiopian Birr (ETB.)
Approx. Ex. Rate: 1 US Dollar = 18.68 Ethiopian Birr
Fiscal
Year End: December 31, 2012
Inflation: According to information
given by independent sources, the
inflation
at December 31st, 2012 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in ETB.)
2012
Sales 10,000,000
Bank Name: CITIBANK
Branch: Ethiopia
Comments: None
Experiences: Good
None
This
information was obtained from outside sources other than the subject company
itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.74 |
|
UK Pound |
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
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.