MIRA INFORM REPORT

Report Date :

02.12.2014

IDENTIFICATION DETAILS

Name :	EQUIPE INVESTMENTS LIMITED

Registered Office :	Plot 34 Kyadondo Road Kampala, P. o. Box 3578 Kampala,

Country :	Uganda

Financial As On :	31.12.2012

Date of Incorporation :	12.10.2010

Com. Reg. No.:	148976

Legal Form :	Limited Corporation

Line of Business :	Subject operate as a procurement projects consultancy firm

No. of Employees	25

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Slow and Delayed

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 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Uganda

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

UGANDA ECONOMIC OVERVIEW

Uganda has substantial natural resources, including fertile soils, regular rainfall, small deposits of copper, gold, and other minerals, and recently discovered oil. Uganda has never conducted a national minerals survey. Agriculture is the most important sector of the economy, employing over 80% of the work force. Coffee accounts for the bulk of export revenues. Since 1986, the government - with the support of foreign countries and international agencies - has acted to rehabilitate and stabilize the economy by undertaking currency reform, raising producer prices on export crops, increasing prices of petroleum products, and improving civil service wages. The policy changes are especially aimed at dampening inflation and boosting production and export earnings. Since 1990 economic reforms ushered in an era of solid economic growth based on continued investment in infrastructure, improved incentives for production and exports, lower inflation, better domestic security, and the return of exiled Indian-Ugandan entrepreneurs. The global economic downturn hurt Uganda's exports; however, Uganda's GDP growth has largely recovered due to past reforms and sound management of the downturn. Oil revenues and taxes will become a larger source of government funding as oil comes on line in the next few years. Instability in South Sudan is a risk for the Ugandan economy because Uganda's main export partner is Sudan, and Uganda is a key destination for Sudanese refugees. Unreliable power, high energy costs, inadequate transportation infrastructure, and corruption inhibit economic development and investor confidence

Source : CIA

SUBJECT'S NAME

Registered Name:	EQUIPE INVESTMENTS LIMITED
Requested Name:	EQUIPE INVESTMENTS LIMITED
Other Names:	None

ADDRESS AND TELECOMMUNICATION

Physical Address:	Plot 34 Kyadondo Road Kampala,
Postal Address:	P. o. Box 3578
	Kampala,
Country:	Uganda
Phone:	256-414-580913/348978
Fax:	256-414-256797/580913
Email:	info@equipe.co.ug/procurement@equipe.co.ug / marketing@equipe.co.ug/ inquiries@equipe.co.ug
Website:	www.equipe.co.ug

LEGAL

Legal Form:	Limited Corporation
Date Incorporated:	14-May-2012
Started:	12-Oct-2010
Reg. Number:	148976
Nominal Capital	UGS. 10,000,000 being shares 100 each UGS. 100,000
Subscribed Capital	UGS. 10,000,000
Subscribed Capital is Subscribed in the following form:
	Position	Shares
Mr. James Onene	CEO	50
Mr. James Kakooza	Director	30
Mr. Joseph Kintu	Director	20

RELATED COMPANIES

None	Parent company.
None	Subsidiary company.
None	Affiliated company.
None	Shareholder of subject firm.
None	Branches of the firm

OPERATIONS

Registered to operate as a procurement projects consultancy firm
Imports:	Asia, Africa
Exports:	None
Trademarks:	None
Terms of sale:	Cash (40%) and 25-90 days (60%), invoices.

Main Customers:	firms and organizations
Employees:	25 employees.
Vehicles:	Several motor vehicles.
Territory of sales:	Uganda
Location:	Leased premises, 10,000 square feet,

AUDITORS AND INSURANCE

Auditors:	EBENEZER A. GRACE & COMPANY
Insurance Brokers:	Information not available.

FINANCE

Currency Reported:	Ugandan Shillings (UGS.)
Approx. Ex. Rate:	1 US Dollar = 2604.95 Ugandan Shillings
Fiscal Year End:	December 31, 2013
Inflation:	According to information given by independent sources, the inflation at December 31st, 2013 was of 13%.

Financial Information Submitted Below

BANK

Bank Name:	CAIRO INTERNATIONAL BANK
Branch:	Main Branch Kampala Road, Kampala, Uganda
Comments:	None

COMMENTS / ADDITIONAL INFORMATION

This information was obtained from outside sources other than the subject company itself .

According to public sources

Company is experiencing problems in payments, company fallen into hard times. Payment morale of subject has revealed that payments are made extremely slowly. There have been frequent collection procedures.Subject is stated to have High risk of bankruptcy.

When contacted to confirm on this, Subject officials declined to comment on this.

Banking confirmations have not been done due to bank regulations on customer information disclosure.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.14
UK Pound	1	Rs.97.05
Euro	1	Rs.77.37

INFORMATION DETAILS

Analysis Done by :	DIV

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.