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Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
QUINCALLERIA BELECOM SARL |
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|
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Registered Office : |
Avenue
Du Travail, Kigali, P. o. Box 4876, Kigali |
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|
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Country : |
Rwanda |
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Date of Incorporation : |
23.01.2007 |
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Com. Reg. No.: |
101463768 |
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|
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Legal Form : |
Societe Anonyme
Responsibilitee Limitee |
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|
|
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Line of Business : |
Subject operate as
dealers in laboratory equipments, electricals, power circuit Breakers,
building and construction materials and related products |
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No. of Employees : |
20 |
RATING & COMMENTS
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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 |
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Payment Behaviour : |
No complaints |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Rwanda |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RWANDA - ECONOMIC OVERVIEW
Rwanda is a poor rural country with about 90% of the population
engaged in (mainly subsistence) agriculture and some mineral and
agro-processing. Tourism, minerals, coffee and tea are Rwanda's main sources of
foreign exchange. Minerals exports declined 40% in 2009-10 due to the global
economic downturn. The 1994 genocide decimated Rwanda's fragile economic base,
severely impoverished the population, particularly women, and temporarily
stalled the country's ability to attract private and external investment.
However, Rwanda has made substantial progress in stabilizing and rehabilitating
its economy to pre-1994 levels. GDP has rebounded with an average annual growth
of 7%-8% since 2003 and inflation has been reduced to single digits.
Nonetheless, a significant percent of the population still live below the official
poverty line. Despite Rwanda's fertile ecosystem, food production often does
not keep pace with demand, requiring food imports. Rwanda continues to receive
substantial aid money and obtained IMF-World Bank Heavily Indebted Poor Country
(HIPC) initiative debt relief in 2005-06. In recognition of Rwanda's successful
management of its macro economy, in 2010, the IMF graduated Rwanda to a Policy
Support Instrument (PSI). Rwanda also received a Millennium Challenge Threshold
Program in 2008. Africa's most densely populated country is trying to overcome
the limitations of its small, landlocked economy by leveraging regional trade.
Rwanda joined the East African Community and is aligning its budget, trade, and
immigration policies with its regional partners. The government has embraced an
expansionary fiscal policy to reduce poverty by improving education,
infrastructure, and foreign and domestic investment and pursuing
market-oriented reforms. Energy shortages, instability in neighboring states,
and lack of adequate transportation linkages to other countries continue to
handicap private sector growth. The Rwandan Government is seeking to become
regional leader in information and communication technologies. In 2010, Rwanda
neared completion of the first modern Special Economic Zone (SEZ) in Kigali.
The SEZ seeks to attract investment in all sectors, but specifically in
agribusiness, information and communications technologies, trade and logistics,
mining, and construction. The global downturn hurt export demand and tourism,
but economic growth has recovered, driven in large part by the services sector,
but inflation has grown. On the back of this growth, government is gradually
ending its fiscal stimulus policy while protecting aid to the poor.
|
Source
: CIA |
|
Registered Name: |
QUINCALLERIA
BELECOM SARL |
|
Requested Name: |
QUINCALLERIA BELECOM SRL |
|
Other Names: |
None |
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Physical Address: |
Avenue
Du Travail, Kigali |
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Postal Address: |
P.
o. Box 4876 |
|
|
Kigali |
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Country: |
Rwanda |
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Phone: |
250-788304700/303033 |
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Fax: |
250-788304700 |
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Email: |
None |
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Website: |
None |
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Legal Form: |
Societe Anonyme
Responsibilitee Limitee |
|
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Date Incorporated: |
23-Jan-2007 |
|
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Reg. Number: |
101463768 |
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Nominal Capital |
RWF.
1,000,000 |
|
|
Subscribed Capital |
RWF.
1,000,000 |
|
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Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Mr. Eugenie Nyirabaziga |
MD |
|
|
Mr.P. Gishoma |
Manager |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
|
Registered to operate as dealers
in laboratory equipments, electricals, power circuit Breakers, building and
construction materials and related products |
|
|
Imports: |
Asia |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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|
|
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Main Customers: |
Government firms and organizations |
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Employees: |
20 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Rwanda |
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Location: |
Leased premises, 5,000 square feet, |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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|
|
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Currency Reported: |
Rwandan Franc (RWF.) |
|
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Approx. Ex. Rate: |
1 US Dollar = 679 Rwandan
Franc |
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Fiscal Year End: |
December 31, 2013 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
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||
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Financial Information not
Submitted |
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|
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Profit and Loss
(expressed in RWF.) |
||
|
|
|
2013 |
|
Sales |
|
350,000,000 |
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Bank Name: |
Commercial
Bank of Rwanda |
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Branch: |
Rwanda |
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Comments: |
None |
|
|
|
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Experiences: |
Good |
None
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.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.