|
Report No. : |
315354 |
|
Report Date : |
06.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
GETAHUN MELESE IMPORT EXPORT |
|
|
|
|
Registered Office : |
Kebele 5 Bole Sub city, Addis Ababa, P. O. Box 26708-1000, Addis Ababa |
|
|
|
|
Country : |
Ethiopia |
|
|
|
|
Date of Incorporation : |
15.07.2004 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Subject operate as exporters
of agricultural products such as pulses, beans, oilseeds, spices such as
white kidney beans, faba beans, soya beans, niger seeds, kabuli chick peas,
green mung, red kidney beans, flax, chick peas and sesame seeds and other
related products and also import of paper products, metal products, packaging
materials and stationery. |
|
|
|
|
No. of Employees : |
25 Employees |
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 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Ethiopia |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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.
|
Source
: CIA |
|
Registered Name: |
GETAHUN MELESE
IMPORT EXPORT |
|
Requested Name: |
GETAHUN MELESE LUYIH EXPORT |
|
Other Names: |
None |
|
Physical Address: |
Kebele
5 Bole Sub city, Addis Ababa |
|
Postal Address: |
P.
o. Box 26708-1000 |
|
|
Addis
Ababa |
|
Country: |
Ethiopia |
|
Phone: |
251-11-6675166 |
|
Cell: |
251-921878703/930034169/922600261 |
|
Fax: |
251-11-6675183/6675166 |
|
Email: |
|
|
Website: |
|
Legal Form: |
Sole Proprietorship |
|
|
Date Incorporated: |
15-July-2004 |
|
|
Reg. Number: |
Ethiopia |
|
|
Nominal Capital |
ETB.
1,500,000 |
|
|
Subscribed Capital |
ETB.
1,500,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Mr. Getahun Melese |
MD |
100% |
|
Mr. Tassew M. |
Manager |
|
|
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 pulses, beans, oilseeds, spices
such as white kidney beans, faba beans, soya beans, niger seeds, kabuli chick
peas, green mung, red kidney beans, flax, chick peas and sesame seeds and
other related products and also import of paper products, metal products,
packaging materials and stationery |
|
|
Imports: |
Asia |
|
Exports: |
Europe, Asia |
|
Trademarks: |
None |
|
Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
|
|
|
|
Main Customers: |
Local agencies, Distributors,firms and organizations |
|
Employees: |
25 employees. |
|
Vehicles: |
Several motor vehicles. |
|
Territory of sales: |
Ethiopia |
|
Location: |
Rented premises, 10,000 square feet, |
|
Auditors: |
Information not
available. |
|
Insurance Brokers: |
Information not
available. |
|
Currency Reported: |
Ethiopian Birr (ETB.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 20.34
Ethiopian Birr |
|
|
Fiscal Year End: |
December 31, 2014 |
|
|
Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2014 was of 13%. |
|
|
|
||
|
Financial Information not
Submitted |
|
|
|
|
|
|
|
Profit and Loss
(expressed in ETB.) |
||
|
|
|
2014 |
|
Sales |
|
44,000,000 |
|
Bank Name: |
Dashen
Bank |
|
Branch: |
Ethiopia |
|
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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.