MIRA INFORM REPORT

 

 

Report Date :

21.08.2014              

 

IDENTIFICATION DETAILS

 

Name :

CHILDREN INTERNATIONAL

 

 

Registered Office :

Plot No 868/4, CNR Katemo and Freetown Road Rhodes Park, Lusaka, P. O. Box 33211, Lusaka

 

 

Country :

Zambia

 

 

Financials (as on) :

30.09.2013

 

 

Year of Establishment :

2001

 

 

Legal Form :

Non-Governmental Organization 

 

 

Line of Business :

Subject operate as an NGO providing  humanitarian support services to children

 

 

No. of Employees :

200 Employees

 

 

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 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Zambia

B2

B1

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

ZAMBIA - ECONOMIC OVERVIEW

 

Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-13 more than 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability to spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment. Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008. Zambia has made some strides to improve the ease of doing business. Regulatory changes by the current government in 2012-2013 included Statutory Instruments (SI) Number 33 (mandating use of the kwacha for domestic transactions) and SI Number 55 (monitoring foreign exchange transactions). Along with problems of fiscal management and weakening global copper prices, these SI's were perceived as undermining confidence in Zambia's economy and currency, leading to sharp depreciation of the kwacha in March 2014. In response, the Minister of Finance revoked SI 33 and 55 in late March 2014. Despite a strong economy, poverty remains a significant problem in Zambia, made worse by a high birth rate, relatively high HIV/AIDS burden, and by market distorting agricultural policies.

Source : CIA

SUBJECT'S NAME

 

Registered Name:

CHILDREN INTERNATIONAL

Requested Name:

CHILDREN INTERNATIONAL

Other Names:

None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Plot No 868/4, CNR Katemo and Freetown Road Rhodes Park, Lusaka

Postal Address:

P. o. Box 33211

 

Lusaka,

Country:

Zambia

Phone:

260-211-250535

Fax:

260-211-256647

Email:

children@children.org

Website:

www.children.org

 

 

LEGAL

 

 

Legal Form:

Non Governmental Organization 

Date Incorporated:

2001

Reg. Number:

Zambia

Nominal Capital

ZMK. 10,000

Subscribed Capital

ZMK. 10,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Gordon Bailey

Group Chairman

 

James Cook

Group CEO

 

David Cacioppo

Director

 

Mark Gilstrap

Director

 

Teddi Hernandez

Director

 

Tamara Oskvig

Director

 

Children International Group

Parent

100%

 

 

RELATED COMPANIES

 

Children International Group

Parent company.

None

Subsidiary company.

Various in the world

Affiliated company.

None

Shareholder of subject firm.

None

Branches of the firm

 

 

OPERATIONS

 

Registered to operate as an NGO providing  humanitarian support services to children

Imports:

Worldwide

Exports:

None

Trademarks:

None

Terms of sale:

None

 

 

Main Customers:

General Public  

Employees:

200 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Zambia

Location:

Owned premises, 10,000 square feet,

 

 

AUDITORS AND INSURANCE

 

Auditors:

BKD, LLP

Insurance Brokers:

Information not available.

 

 

FINANCE

 

Currency Reported:

Zambian Kwacha (ZMK.)

Approx. Ex. Rate:

1 US Dollar = 30.43 Zambian Kwacha

Fiscal Year End:

December 31, 2013

Inflation:

According to information given by independent sources, the inflation at December 31st, 2013 was of 13%.

 

Group Financial Information Submitted Below

 

 

 

BANK

 

 

Bank Name:

Cavmont Bank

Branch:

Zambia

Comments:

None

 

TRADE REFERENCES

 

Experiences:

Good

 

 

NOTARIAL BONDS

 

None

 

 

COMMENTS / ADDITIONAL INFORMATION

 

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.60.67

UK Pound

1

Rs.100.81

Euro

1

Rs.80.73

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

Report Prepared by :

NIT

 

               

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.