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Report No. : |
318340 |
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Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
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Name : |
ACCLIMATISE INTERNATIONAL GROUP OF COMPANIES LIMITED |
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Registered Office : |
Ali
Hassan Mwinyi Road, Dar Es Salaam, P. o. Box 6133 Dar Es Salaam |
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Country : |
Tanzania
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Date of Incorporation : |
31.07.2013 |
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Com. Reg. No.: |
101256 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate mining
and exploration of copper, gold and diamond and export of food products such
as green mung, cashew nuts |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Tanzania |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
TANZANIA - ECONOMIC OVERVIEW
Tanzania is one of the
world's poorest economies in terms of per capita income, however, it has
achieved high overall growth rates based on gold production and tourism.
Tanzania has largely completed its transition to a liberalized market economy,
though the government retains a presence in sectors such as telecommunications,
banking, energy, and mining. The economy depends on agriculture, which accounts
for more than one-quarter of GDP, provides 85% of exports, and employs about
80% of the work force. The World Bank, the IMF, and bilateral donors have
provided funds to rehabilitate Tanzania's aging economic infrastructure,
including rail and port infrastructure that are important trade links for
inland countries. Recent banking reforms have helped increase private-sector
growth and investment, and the government has increased spending on agriculture
to 7% of its budget. The financial sector in Tanzania has expanded in recent
years and foreign-owned banks account for about 48% of the banking industry's
total assets. Competition among foreign commercial banks has resulted in
significant improvements in the efficiency and quality of financial services,
though interest rates are still relatively high, reflecting high fraud risk. All
land in Tanzania is owned by the government, which can lease land for up to 99
years. Proposed reforms to allow for land ownership, particularly foreign land
ownership, remain unpopular. Continued donor assistance and solid macroeconomic
policies supported a positive growth rate, despite the world recession. In
2008, Tanzania received the world's largest Millennium Challenge Compact grant,
worth $698 million, and in December 2012 the Millennium Challenge Corporation
selected Tanzania for a second Compact. Dar es Salaam used fiscal stimulus and
loosened monetary policy to ease the impact of the global recession. GDP growth
in 2009-13 was a respectable 6-7% per year due to high gold prices and
increased production.
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Source
: CIA |
Company
Name
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Registered Name: |
ACCLIMATISE
INTERNATIONAL GROUP OF COMPANIES LIMITED |
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Requested Name: |
ACCLIMATISE INTERNATIONAL GROUP |
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Trade Names: |
ACCLIMATISE INTERNATIONAL GROUP |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Ali
Hassan Mwinyi Road, Dar Es Salaam, |
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Postal Address: |
P.
o. Box 6133 |
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Dar
Es Salaam, |
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Country: |
Tanzania |
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Phone: |
255-778855556/772616188 |
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Fax: |
None |
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Email: |
info@acclimatiseinternational.com |
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Website: |
www.acclimatiseinternational.com |
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CREDIT
OPINION
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Financial Index as of
December 2014 shows subject firm with a high risk of credit. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
31-July-2013 |
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Reg. Number: |
101256 |
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Nominal Capital |
TZS.
30,000,000,000 |
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Subscribed
Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. James Maina |
Director |
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RELATED
COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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Congo |
Branches of the firm |
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OPERATIONS
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Registered to operate mining
and exploration of copper, gold and diamond and export of food products such
as green mung, cashew nuts |
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Imports: |
Asia |
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Exports: |
Worldwide |
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Trademarks: |
None |
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AUDITORS
AND INSURANCE
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
Tanzanian Shillings (TZS.) |
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Approx. Ex. Rate: |
1 US Dollar = 1936.12
Tanzanian Shillings |
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Fiscal Year End: |
December 31, 2014 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2014 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in TZS.) |
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2014 |
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Estimated Sales |
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50,000,000,000 |
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COMMENTS
/ ADDITIONAL INFORMATION
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This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. According to local sources
the Subject Company is a scam/fraud company. The telephone numbers are not
working. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.19 |
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1 |
Rs.94.94 |
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Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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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.