MIRA INFORM REPORT

Report Date :

20.12.2014

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	No Trace
Payment Behaviour :	--
Litigation :	--

NOTES :

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ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
Ethiopia	B2	B2

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 but the government is pushing to diversify into manufacturing, textiles, and energy generation.. Coffee is 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, telecommunications, 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 the new collective leadership that followed Prime Minister MELES’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 2014 will continue construction of its Grand Renaissance Dam on the Nile – a controversial five billion dollar effort to develop electricity for domestic consumption and export.

Source : CIA

Company name
Requested Name:	ABDU MOHAMMED EXPORT
Other Names:	None
CREDIT OPINION
A Search was conducted with the registry of companies, we are having difficulty in getting subject’s file at the Registrar of company’s office. Telephone directories, Subject is not listed in any trade or telephone directory, and also Search with the Telkom could not assist in tracing the company thus could not assist in tracing the company Subject Ownership is not known. In the view that we have exhaustively traced the company with no success. We recommend no credit. However should Further Information be available, E.g. address, telephone, Fax, Email additional Investigations will be conducted, as the Subject may be a recently formed company.

Important Note:

Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a would be sent without any additional cost.

INFORMATION DETAILS

Analysis Done by :	SUM
Report Prepared by :	TPT

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