MIRA INFORM REPORT

 

 

Report Date :

13.03.2013

 

IDENTIFICATION DETAILS

 

Name :

GENERAL BUSINESS OF AFRICA

 

 

Registered Office :

BP 18429 Akwa Douala

 

 

Country :

Cameroon

 

 

Date of Incorporation :

05.09.2002

 

 

Legal Form :

Societe Anonyme Responsabilite Limitee.

 

 

Line of Business :

Consultancy firm providing purchasing ,procurement and import outsourcing services

 

 

No. of Employees :

30

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Cameroon

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Cameroon - ECONOMIC OVERVIEW

 

Because of its modest oil resources and favorable agricultural conditions, Cameroon has one of the best-endowed primary commodity economies in sub-Saharan Africa. Still, it faces many of the serious problems confronting other underdeveloped countries, such as stagnant per capita income, a relatively inequitable distribution of income, a top-heavy civil service, endemic corruption, and a generally unfavorable climate for business enterprise. Since 1990, the government has embarked on various IMF and World Bank programs designed to spur business investment, increase efficiency in agriculture, improve trade, and recapitalize the nation's banks. The IMF is pressing for more reforms, including increased budget transparency, privatization, and poverty reduction programs. Subsidies for electricity, food, and fuel have strained the budget. New mining projects - in diamonds, for example - have attracted foreign investment, but large ventures will take time to develop. Cameroon's business environment - one of the world's worst - is a deterrent to foreign investment.

 

Source : CIA

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

COMPANY REPORTED:

GENERAL BUSINESS OF AFRICA

Trade Names:

GENERAL BUSINESS OF AFRICA SARL

Initials:

GBA SARL

Principal Address:

BP 18429 Akwa Douala, Cameroon

Telephone:

+237-33-33437929

Fax:

+237-33-33437929

Email:

generalbusiness@yahoo.fr

Internet:

www.gbafrica.webs.com

Established:

05/09/2002

Registration:

Douala, Cameroon

Legal Form:

Societe Anonyme Responsabilite Limitee.

Stock Listing:

Not Listed

Workforce:

2012

 

 

 

 

30

 

 

 

Office & Factories

Head offices

Rue De Sylvanie N 1390-Akwa Douala, Cameroon

Branches

None

 

 

DIRECTORS/MANAGEMENT

 

Management/ Directors

 

President/ CEO (1)

Name

Mr. Elie Berlin Fokou

Active in daily business:

Active

Current Title:

Chief Executive Officer

Country of residence

Cameroon

Remarks

Top Decision Maker

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.

 

 

NEGATIVE INFORMATION

 

No negative information found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Share Capital

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. Elie Berlin Fokou

CEO

 

 

Mr. Tekeu Viviane

Manager

 

 

Mr. Brice Aurélien Tsombeng Folefack

Admin

 

 

Total

 

 

100.00%

 

 

PAYMENT INFORMATION

 

 

Terms of payment

Buying terms 

70% in cash, 30% on LC, TT

Selling terms

80% in cash, 20% on credit

Suppliers

Various suppliers and companies

Customers

Local agencies, individuals,stores, outlets, firms and organizations

 

 

Recent Sales

CFA. 1,600,000,000  (2012 Estimated)

Exports

None

Export Ratio

0.0%

Import Ratio

60.0%

Domestic Market Share

20.0%

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Affiliated Companies

None

 

 

FINANCIAL INFORMATION

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Exchange Rate

US$ 1 = CFA. 503.23

 

 

ADDITIONAL INFORMATION

 

Established:

05/09/2002

Registration:

Douala, Cameroon

Legal Form:

Societe Anonyme Responsabilite Limitee.

Stock Listing:

Not Listed

Workforce:

2012

 

 

 

 

30

 

 

 

Office & Factories

Head offices

Rue De Sylvanie N 1390-Akwa Douala, Cameroon

Branches

None

 

Business Activities

Consultancy firm providing purchasing ,procurement and import outsourcing services

 

Business Premises

5000 Sft

Type of occupation                                              

Leased

Location 

The subject is located close to a major road network                      

Premises used as                                                

Offices, WorkShop, Ware House

 

Banking relationship

Main Banks

Commercial Bank of Cameroon (CBC)

 

 

NOTES & COMMENTS

 

---

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.33

UK Pound

1

Rs.80.89

Euro

1

Rs.70.73

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.