MIRA INFORM REPORT

Report Date :

23.05.2014

IDENTIFICATION DETAILS

Name :	ETS HIMADOU-HAMANI IMPORT & EXPORT COMMERCE GENERAL

Registered Office :	Boulevard de L\'Oua, Niamey

Country :	Niger

Date of Incorporation :	12.08.1984

Com. Reg. No.:	4357

Legal Form :	Sole Proprietorship

Line of Business :	Operate as general dealers in automotive repairs, spare parts and accessories, household goods.

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)

Niger

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

NIGER - ECONOMIC OVERVIEW

Niger is a landlocked, Sub-Saharan nation, whose economy centers on subsistence crops, livestock, and some of the world's largest uranium deposits. Agriculture contributes about one-third of GDP and provides livelihood for about nine-tenths of the population. Drought, desertification, and strong population growth have undercut the economy. Niger shares a common currency, the CFA franc, and a common central bank, the Central Bank of West African States (BCEAO), with seven other members of the West African Monetary Union. Debt relief has significantly reduced Niger's annual debt service obligations, freeing funds for expenditures on basic health care, primary education, HIV/AIDS prevention, rural infrastructure, and other programs geared at poverty reduction. Nearly half of the government's budget is derived from foreign donor resources. The economy in recent years has been hurt by terrorist activity and kidnappings near its uranium mines and instability in Mali. Future growth may be sustained by exploitation of oil, gold, coal, and other mineral resources. Niger has sizable reserves of oil and oil production, which began in 2012, along with refining, and exports are expected to grow through 2016. However, oil revenues have fallen well short of predictions, mainly because of logistical challenges. Food insecurity and drought remain perennial problems for Niger. The mining sector may be affected by the government’s attempt to renegotiate extraction rights contracts

Source : CIA

SUBJECT'S NAME

Registered Name:	ETS HIMADOU-HAMANI IMPORT & EXPORT COMMERCE GENERAL
Requested Name:	ETS HIMADOU HAMANI
Other Names:	None

ADDRESS AND TELECOMMUNICATION

Physical Address:	Boulevard de L\'Oua, Niamey
Postal Address:	BP 12367
	Niamey,
Country:	Niger
Phone:	227-20-733596/740110
Fax:	227-20-733596
Email:	None
Website:	None

CREDIT OPINION

Financial Index as of December 2013 shows subject firm with a medium risk of credit.

LEGAL

Legal Form:	Sole Proprietorship
Date Incorporated:	12-Aug-1984
Reg. Number:	4357
Nominal Capital	CFA. 1,000,000
Subscribed Capital	CFA. 1,000,000
Subscribed Capital is Subscribed in the following form:
	Position	Shares
Mr. Himadou Hamani	MD
Mr. Al Abdelkader	Director
Mr. Mahamadou Hassane	Manager
Mr. Ibrahim Garba	Manager
_______________________________________________________________________

RELATED COMPANIES

None	Parent company.
None	Subsidiary company.
None	Affiliated company.
None	Shareholder of subject firm.
A Cote De Ecogar, Niamey, Niger	Branches of the firm

OPERATIONS

Registered to operate as general dealers in automotive repairs, spare parts and accessories, household goods.
Imports:	Asia
Exports:	None
Trademarks:	None
Terms of sale:	Cash (30%) and 25-90 days (70%), invoices.

Main Customers:	General public, firms and organizations
Employees:	30 employees.
Vehicles:	Several motor vehicles.
Territory of sales:	Niger
Location:	Leased premises, 10,000 square feet,

AUDITORS AND INSURANCE

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

FINANCE

Currency Reported:	West African Franc (CFA.)
Approx. Ex. Rate:	1 US Dollar = 479.64 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		8,400,000,000

BANK

Bank Name:	Banque Atlantique Niger
Branch:	Niger
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.58.57
UK Pound	1	Rs.98.87
Euro	1	Rs.80.05

INFORMATION DETAILS

Analysis Done by :	SUM

Report Prepared by :	PDT

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.