|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
RURAL INVESTMENT CREDIT SA |
|
|
|
|
Registered Office : |
Round Point Makepe Douala,
Akwa |
|
|
|
|
Country : |
Cameroon |
|
|
|
|
Date of Incorporation : |
08.05.2002 |
|
|
|
|
Com. Reg. No.: |
00193 |
|
|
|
|
Legal Form : |
Societe Anonyme |
|
|
|
|
Line of Business : |
providers of micro
finance services such as loans and related financial services |
|
|
|
|
No. of Employees |
10 |
RATING & COMMENTS
|
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 |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Cameroon |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Cameroon ECONOMIC OVERVIEW
Because of its
modest oil resources and favorable agricultural conditions, Cameroon has one of
the best-endowed primary commodity economies in sub-Saharan Africa. Still, it
faces many of the serious problems confronting other underdeveloped countries,
such as stagnant per capita income, a relatively inequitable distribution of
income, a top-heavy civil service, endemic corruption, and a generally
unfavorable climate for business enterprise. Since 1990, the government has
embarked on various IMF and World Bank programs designed to spur business
investment, increase efficiency in agriculture, improve trade, and recapitalize
the nation's banks. The IMF is pressing for more reforms, including increased
budget transparency, privatization, and poverty reduction programs. Subsidies
for electricity, food, and fuel have strained the budget. Cameroon recently
began several large infrastructure projects, including a deep sea port in
Kribi, a natural gas powered electricity generating plant, and several
hydroelectric dams. Cameroon must attract more investment to improve its
inadequate infrastructure, but its business environment is a deterrent to
foreign investment.
|
Source : CIA |
Registered Name: RURAL INVESTMENT CREDIT SA
Requested Name: RURAL
INVESTMENT CREDIT SA
Other Names: RIC
Physical Address: Round Point Makepe Douala, Akwa,
Postal Address: P. o. Box 218
Douala, Akwa,
Country: Cameroon
Phone: 237-33424991/75394012
Fax: 237-33424991
Email: rinvestment2003@gmail.com
Website: None
Financial
Index as of December 2013 shows subject firm with a medium risk of credit.
Legal Form: Societe Anonyme
Date Incorporated: 8-May-2002
Reg. Number: 00193
Nominal Capital CFA. 1,000,000
Subscribed Capital CFA. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Suh Martin Director
Mr. Chuibah Martin
Bukuhka Director
Mr. Anaka Godwin
Angeme Officer
Mrs. Charlotte
Moalonde Officer
Mr. Nzometia Modeste
Zelefack Officer
Mr. Paul Nkeh
Tamfu Admin
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
Mutengene,
Cameroon Branches of the firm
Registered to operate as providers of micro finance services such as
loans and related financial services
Imports: Asia,
Africa
Exports: None
Trademarks: None
Terms of sale: Cash
(20%) and 25-90 days (80%), invoices.
Main Customers: General
Public
Employees: 10
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Cameroon
Location: Rented
premises, 2,500 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: West African Franc (CFA.)
Approx. Ex. Rate: 1 US Dollar = 476.02 West African Franc
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 CFA.)
2013
Sales 680,000,000
Bank Name: Commercial Bank of Cameroon
(CBC)
Branch: Cameroon
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.60.17 |
|
|
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
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 |
|
|
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.