MIRA INFORM REPORT

Report Date :

10.05.2014

IDENTIFICATION DETAILS

Name :	ETS. BOUBACAR CELLOU DIALLO

Registered Office :	Route Du Niger (Mafanco) 020 Bp 253, Boutique No 154 Conakry BP 253 Conakry,

Country :	Guinea

Date of Incorporation :	16.02.2001

Legal Form :	Sole Proprietorship

Line of Business :	Subject operate import and distribution of general merchandise such as FMCG products, hardware.

No. of Employees :	30

RATING & COMMENTS

MIRA’s Rating :

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 – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Guinea

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

GUINEA ECONOMIC OVERVIEW

Guinea is a poor country that possesses major mineral, hydropower, solar power, and agricultural resources. Guinea has historically been an exporter of agricultural commodities, but in recent years has shifted to importing the majority of food crops. Bauxite is Guinea’s main mineral resource as well as its main source of foreign currency. Guinea is the second largest producer of bauxite in the world and has the largest reserves of bauxite, estimated at 29 billion tons. The country also has significant iron ore, gold, and diamond reserves. However, Guinea has been unable to profit from this potential, as rampant corruption, dilapidated infrastructure, and political uncertainty have drained investor confidence. In the time since a 2008 coup following the death of long-term President Lansana CONTE, international donors, including the G-8, the IMF, and the World Bank, significantly curtailed their development programs but, following the December 2010 presidential elections, the IMF approved a new 3-year ECF arrangement in 2012. Guinea in September 2012 reached HIPC completion point status. Further international assistance and investment are contingent on the ability of the government to be transparent, combat corruption, reform its banking system, improve its business environment, and build infrastructure. International investors have expressed keen interest in Guinea's vast iron ore reserves, which could propel the country's growth. The government in April 2013 amended the September 2011 mining code to reduce taxes and royalties. Longer range plans to deploy broadband Internet throughout the country could spur economic growth as well. The biggest threats to Guinea’s economy are political instability and low international commodity prices

Source : CIA

Company name and address

SUBJECT'S NAME
Registered Name:	ETS. BOUBACAR CELLOU DIALLO
Requested Name:	ETS. BOUBACAR CELLOU DIALLO
Other Names:	None

ADDRESS AND TELECOMMUNICATION

Physical Address:	Route Du Niger (Mafanco) 020 Bp 253, Boutique No 154 Conakry,
Postal Address:	BP 253
	Conakry,
Country:	Rep Du Guinea (West Africa)
Phone:	224-60584296
Fax:	224-60584296
Email:	None
Website:	None
_______________________________________________________________________

LEGAL

Legal Form:	Sole Proprietorship
Date Incorporated:	16-Feb-2001
Reg. Number:	Rep Du Guinea (West Africa)
Nominal Capital	GNF. 10,000,000
Subscribed Capital	GNF. 10,000,000
Subscribed Capital is Subscribed in the following form:
	Position	Shares
Mr. Boubacar Cellou Diallo	Director	100%

RELATED COMPANIES

None	Parent company.
None	Subsidiary company.
None	Affiliated company.
None	Shareholder of subject firm.
None	Branches of the firm
___________________________________________________________________________

OPERATIONS

Registered to operate import and distribution of general merchandise such as FMCG products, hardware etc
Imports:	Asia
Exports:	None
Trademarks:	None
Terms of sale:	Cash (40%) and 25-90 days (60%), invoices.

Main Customers:	Local agencies, general public
Employees:	30 employees.
Vehicles:	Several motor vehicles.
Territory of sales:	Rep Du Guinea (West Africa)
Location:	Rented premises, 5,000 square feet,
_______________________________________________________________________

AUDITORS AND INSURANCE

Auditors:	Information not available.
Insurance Brokers:	Information not available.

FINANCE

Currency Reported:	Guinean Franc (GNF.)
Approx. Ex. Rate:	1 US Dollar = 6830.01 Guinean 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 GNF.)
		2013
Sales		8,500,000,000
_______________________________________________________________________

BANK

Bank Name:	Ecobank Guinee (EBG)
Branch:	Rep Du Guinea (West Africa)
Comments:	None

TRADE REFERENCES

Experiences:

Good

NOTARIAL BONDS

None

COMMENTS / ADDITIONAL INFORMATION

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.60.05
UK Pound	1	Rs.101.65
Euro	1	Rs.83.07

INFORMATION DETAILS

Analysis Done by :	DIV

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
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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.