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Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL CONSORTIUM
LIMITED |
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Registered Office : |
Ilala, |
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Country : |
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Date of Incorporation : |
29.12.2005 |
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Com. Reg. No.: |
55077 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
exporters of Agricultural Products such as Beans, Seeds, Spices, Tea, Millet and Other Related Products |
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No of Employees : |
320 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Tanzania |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
tanzania ECONOMIC OVERVIEW
Tanzania is one
of the world's poorest economies in terms of per capita income, however, it has
achieved high overall growth rates based on gold production and tourism.
Tanzania has largely completed its transition to a liberalized market economy,
though the government retains a presence in sectors such as telecommunications,
banking, energy, and mining. The economy depends on agriculture, which accounts
for more than one-quarter of GDP, provides 85% of exports, and employs about
80% of the work force. The World Bank, the IMF, and bilateral donors have
provided funds to rehabilitate Tanzania's aging economic infrastructure,
including rail and port infrastructure that are important trade links for
inland countries. Recent banking reforms have helped increase private-sector growth
and investment, and the government has increased spending on agriculture to 7%
of its budget. The financial sector in Tanzania has expanded in recent years
and foreign-owned banks account for about 48% of the banking industry's total
assets. Competition among foreign commercial banks has resulted in significant
improvements in the efficiency and quality of financial services, though
interest rates are still relatively high, reflecting high fraud risk. All land
in Tanzania is owned by the government, which can lease land for up to 99
years. Proposed reforms to allow for land ownership, particularly foreign land
ownership, remain unpopular. Continued donor assistance and solid macroeconomic
policies supported a positive growth rate, despite the world recession. In
2008, Tanzania received the world's largest Millennium Challenge Compact grant,
worth $698 million, and in December 2012 the Millennium Challenge Corporation
selected Tanzania for a second Compact. Dar es Salaam used fiscal stimulus and
loosened monetary policy to ease the impact of the global recession. GDP growth
in 2009-13 was a respectable 6-7% per year due to high gold prices and
increased production.
|
Source
: CIA |
Registered Name: GLOBAL CONSORTIUM LIMITED
Requested Name: GLOBAL
CONSORTIUM LIMITED
Other Names: None
Physical Address: Ilala, Dar Es Salaam,
Postal Address: P. o. Box 67337
llala
Country: Tanzania
Phone: 255-22-22183824
Cell: 255-715420840
Fax: 255-22-22183824
Email: info@globalconsortiumltd.com
Website: None
Financial Index as of December 2013 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 29-Dec-2005
Reg. Number: 55077
Nominal Capital TZS. 10,000,000
Subscribed Capital TZS. 10,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. H. Kuta Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as exporters of agricultural products such as
beans, seeds, spices, tea, millet and other related products
Imports: Asia
Exports: Europe,
Asia
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 320
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Tanzania
Location: Leased
premises, 10,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Tanzanian Shillings (TZS.)
Approx. Ex. Rate: 1 US Dollar = 1662.91 Tanzanian 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 not Submitted
Profit and Loss (expressed in TZS.)
2013
Sales 368,500,000
Bank Name: CRBD BANK
Branch: Tanzania
Comments: None
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.60.00 |
|
UK Pound |
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.80.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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 |
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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.