MIRA INFORM REPORT
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Report Date : |
25.05.2013 |
IDENTIFICATION DETAILS
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Name : |
DELCO-BN SARL |
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Registered Office : |
Avenue de la BCEAO,
Rue 2.17 / KadiogoSecteur 01, City Ouagadougou
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Country : |
Burkina Faso |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
14.02.2012 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Consumer goods wholesale, Building and general construction |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Business |
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Payment Behaviour : |
Slow but Correct |
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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) |
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Burkina Faso |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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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 |
burkina faso ECONOMIC OVERVIEW
Burkina Faso is a poor, landlocked country that relies heavily on
cotton and gold exports for revenue. The country has few natural resources and
a weak industrial base. About 90% of the population is engaged in subsistence
agriculture, which is vulnerable to periodic drought. Cotton is the main cash
crop. Since 1998, Burkina Faso has embarked upon a gradual privatization of
state-owned enterprises and in 2004 revised its investment code to attract
foreign investment. As a result of this new code and other legislation favoring
the mining sector, the country has seen an upswing in gold exploration and
production. By 2010, gold had become the main source of export revenue. Gold
mining production doubled between 2009 and 2010. Two new mining projects were
launched the third quarter of 2011. Local community conflict persists in the
mining and cotton sectors, but the Prime Minister has made efforts to defuse
some of the economic cause of public discontent, including announcing income
tax reductions, reparations for looting victims, and subsidies for basic food
items and fertilizer. An IMF mission to Burkina Faso in October 2011 expressed
general satisfaction with the measures. The risk of a mass exodus of the 3 to 4
million Burinabe who live and work in Cote D'Ivoire has dissipated, and trade,
power, and transport links are being restored. Burkina Faso experienced a
severe drought in 2011 which decimated grazing land and decreased harvests,
creating food insecurity and damaging the country's agricultural base.
|
Source : CIA |
REGISTERED NAME & COMPANY
SUMMARY
DELCO-B/N Sarl
Delta Construction &
Business Burkina/Niger
ADDRESSES:
Main Address: Avenue de la BCEAO,
Rue 2.17 / KadiogoSecteur 01
Zip code/City: Ouagadougou,
Burkina Faso
Telephone: +226 50 33 23
03
Fax: +226 50 33 23 03
E-mail: delcoburkina@yahoo.fr
WIN Worldbox No.: BF0000019905
Profile
Established: 2012
Line of Business: Consumer goods
wholesale, Building and general construction
Industry Division: Wholesale trade,
Manufacturing
Industry-code (NACE): 4643 Wholesale of electrical
household appliances
4652 Wholesale of
electronic and telecommunications equipment and parts
4631 Wholesale of
fruit and vegetables
4633 Wholesale of
dairy products, eggs and edible oils and fats
4649 Wholesale of
other household goods
4120 Construction
of residential and non-residential buildings
Banks: B.S.I.C.
BURKINA FASO - S.A
CORIS BANK
INTERNATIONAL
Compagniebancaire
de l'AfriqueOccidentale (CBAO)
Employees: 30
CNPJ: -
DIRECTORS/MANAGEMENT
Board
of Directors:
General Director YacoubaZabda
Chief Financial Officer FatimataGandema
Chief Sales Officer Ami Compaore
Chief Accounting Officer Marcel Ouedraogo
Chief Administration Officer KadidjatouZeba
NEGATIVE INFORMATION
Public
information:
-
SHARE & SHARE CAPITAL INFORMATION
State Register: BFOUA2012B730
Legal form: Limited
Liability Company
Incorporation date: 14.02.2012
Balance sheet filing date: -
Tax Contributor Number
(CNPJ): -
Legal status: active
Responsible Register: Chambre de commerce
etd'industrie du Burkina Faso
Entry Deleted Name
active DELCO-B/N Sarl
Entry Deleted Capital
active Capital XAF
2'000'000, paidup XAF 2'000'000
Entry Deleted Branches
active ImmeubleKafandoMoussa,
Zone commerciale Face à l'immeuble SDV Burkina, Ouagadougou, Burkina Faso/BF
active Zone
commerciale et administrative Ouagadougou, Cotéest de Ouaga-Inter, Secteur 15,
Ouagadougou, Burkina Faso/BF
active ImmeubleNassa RDC,
Zone commercialecoténord, Cinimetièremunicipale, Ouagadougou, Burkina Faso/BF
PAYMENT INFORMATION
Import
and Export:
Import
Payment
history:
No payment history is
available.
GROUP STRUCTURE & AFFILIATED COMPANIES
Owners/-s:
Class: 100%
Name: YacoubaZabda
City/Country: Burkina Faso/BF
Capital share: XAF 2'000'000.--
Interest: 100.00%
voting right, 100.00% capital interest
FINANCIAL INFORMATION
Financial
Data DELCO-B/N Sarl
Consolidation: unconsolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012
Number of months: 12
Currency: mil.
XAF
Balance
Sheet
Intangible fixed assets 246'227.0
Land and buildings 72'812'852.0
Tangible fixed assets 72'812'852.0
Fixed assets 73'059'079.0
Stocks 35'980'930.0
Trade accounts receivable 28'923'500.0
Other current assets 5'857'786.0
Current assets 70'762'216.0
Total assets 143'821'295.0
Capital 2'000'000.0
Other shareholders funds 40'722'547.0
Total shareholders equity 42'722'547.0
long term debt (financial debts) 82'035'698.0
Non current liabilities 82'035'698.0
Current liabilities 19'063'050.0
Shareh. equity, min. interests + liabilities 143'821'295.0
Profit
and loss account
Net sales 415'695'502.0
Operating revenue 415'695'502.0
Cost of goods sold 280'205'990.0
Gross profit 135'489'512.0
Other operating expenses 71'632'073.0
Operating result 63'857'439.0
Interest expenses 7'688'409.0
Financial expenses 7'688'409.0
Financial result -7'688'409.0
Result before extraordinary items 56'169'030.0
Result before taxes 56'169'030.0
Taxes 15'446'483.0
Result before minority interests 40'722'547.0
Result for the financial year 40'722'547.0
FOREIGN EXCHANGE RATES
Exchange
rate:
US$
1,00 =
XOF 509,412 - Official rate on 22.05.2013
ADDITIONAL INFORMATION
Main
Activities:
The Delco-B/N Sarl is active
in the construction sector and renovation of buildings.
The other business is
engaged in the import, distribution, representation and commercialization of
food, electronics and domestic appliances compounds, household item and textile
composed largely of cloths, tissues and Bazin.
The supplier of Delco-B/N
are mainly from Europe and Asia, especially from Belgium, France, India and
Hong Kong.
The customers of Delco-B/N
are exclusively in Burkina Faso.
Operations
& branches:
at the Avenue de la BCEAO
-Rue 2.17 / KadiogoSecteur 01, Ougadougou we find the company's headquarters
and registered seat of business.
Branches:
ImmeubleNassa RDC, zone
commercialecoténordCinimetièremunicipale
Boutique No : 02
ImmeubleKafandoMoussa, zone
commerciale Face à l’immeuble
SDV-Burkina / Boutique No :
01
Zone commercial et
administrative ouagadougou / cotéest de Ouaga-Inter
Secteur 15 –DépôtNo : 01
Staff:
30
NOTES & COMMENTS
We conducted an interview with owner of Delco-B/N, Mr. Yaouba Zabda, on the 14th May 2013. The financials for 2012 were provided by the company itself; it was not possible for us to verify these with an independent source, we are therefore not entirely certain that these figures are correct. We tried contacting several of the suppliers of the company, but did not yet receive a response from these sources. We suggest that, when granting a credit, you seek guarantees.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
UK Pound |
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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.