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Report Date : |
06.06.2014 |
IDENTIFICATION DETAILS
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Name : |
DAWUNT BUSINESS PLC |
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Registered Office : |
Bole Medehanealem Area, Abyssinia Bldg.,4th Flr, Addis Ababa P. o. Box
21560, Addis Ababa |
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Country : |
Ethiopia |
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Date of Incorporation : |
2000 |
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Legal Form : |
Limited
Corporation |
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Line of Business : |
Exporters
of pulses, oilseeds, spices, pulses, coffee, tea, agro-forestry products,
cotton and minerals and import of agro-chemicals,
fertilizers, industrial inputs and chemicals, pulp, paper and printing
inputs, construction and building materials, food products and also operates
as a buying, selling and commercial agent |
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|
|
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No. of Employees |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Ethiopia |
C1 |
C1 |
|
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 |
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
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Source
: CIA |
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Registered Name: |
DAWUNT BUSINESS PLC |
|
Requested Name: |
DAWUNT BUSINESS PLC |
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Other Names: |
None |
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Physical Address: |
Bole Medehanealem Area, Abyssinia Bldg.,4th Flr, Addis Ababa |
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Postal Address: |
P. o. Box 21560, |
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|
Addis Ababa |
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Country: |
Ethiopia |
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Phone: |
251-11-6620650/6651548/6620651/620652/620707 |
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Fax: |
251-11-6620707 |
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Email: |
dawunt@ethionet.et/ info@dawunt.com |
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Website: |
www.dawunt.com |
|
Legal Form: |
Limited Corporation |
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Date Incorporated: |
2000 |
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Reg. Number: |
Ethiopia |
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Nominal Capital |
ETB. 1,000,000 |
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Subscribed Capital |
ETB. 1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Fassil Melesse |
CEO |
|
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Mr. Teshome Tullu |
Manager |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
FASIL
CONSULT PLC, BESHILO LOGISTICS PLC. |
Affiliated company. |
|
None |
Shareholder of subject firm. |
|
2 In Ethiopia |
Branches of the firm |
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___________________________________________________________________________ |
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Registered to operate as exporters of pulses, oilseeds, spices, pulses, coffee, tea, agro-forestry products, cotton and minerals and import of agro-chemicals, fertilizers, industrial inputs and chemicals, pulp, paper and printing inputs, construction and building materials, food products etc and also operates as a buying, selling and commercial agent |
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Imports: |
Asia,Middle East |
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Exports: |
Europe, Asia |
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Trademarks: |
None |
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Terms of sale: |
Cash (30%) and 25-90 days (70%), invoices. |
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|
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Main Customers: |
firms and organizations |
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Employees: |
50 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Ethiopia |
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Location: |
Owned premises, 10,000 square feet, |
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Auditors: |
Abrham Teshome & Co. |
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Insurance Brokers: |
Information not available. |
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_______________________________________________________________________ |
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FINANCE |
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Currency Reported: |
Ethiopian Birr (ETB.) |
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Approx. Ex. Rate: |
1 US Dollar = 19.58 Ethiopian Birr |
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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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Financial Information not Submitted |
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Profit and Loss (expressed in ETB.) |
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2013 |
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Sales |
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350,000,000 |
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Bank Name: |
Commercial Bank of Ethiopia (CBE) |
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Branch: |
Ethiopia |
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Comments: |
Other Banks |
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Wegagen Bank |
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Awash International Bank |
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Zemen Bank |
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Experiences: |
Good |
None
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This information
was obtained from outside sources other than the subject company itself and
confirmed the above subject. |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.30 |
|
|
1 |
Rs.99.34 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
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 |
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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 |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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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 |
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|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
NB |
New Business |
-- |
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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.