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Report No. : |
356018 |
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Report Date : |
28.12.2015 |
IDENTIFICATION DETAILS
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Name : |
QUALIMED |
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Registered Office : |
Avenue 17, Nyarutarama, Kigali, Kigali |
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Country : |
Rwanda |
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Date of Incorporation : |
05.07.2008 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject operate as
dealers in pharmaceuticals and medicinal drugs |
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No. of Employees : |
15 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Rwanda |
B1 |
B1 |
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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 |
RWANDA - ECONOMIC OVERVIEW
Rwanda is a rural country with about 90% of the population
engaged in subsistence agriculture and some mineral and agro-processing. Tourism,
minerals, coffee and tea are Rwanda's main sources of foreign exchange. The
1994 genocide decimated Rwanda's fragile economic base, severely impoverished
the population, particularly women, and temporarily stalled the country's
ability to attract private and external investment. However, Rwanda has made
substantial progress in stabilizing and rehabilitating its economy to pre-1994
levels. GDP has rebounded with an average annual growth of 7%-8% since 2003 and
inflation has been reduced to single digits. Nonetheless, a significant percent
of the population still live below the official poverty line; 45% of the
population now lives below the poverty line, compared to 57% in 2006. Despite
Rwanda's fertile ecosystem, food production often does not keep pace with
demand, requiring food imports In recognition of Rwanda's successful management
of its macro economy, in 2010, the IMF graduated Rwanda to a Policy Support
Instrument (PSI). Africa's most densely populated country is trying to overcome
the limitations of its small, landlocked economy by leveraging regional trade;
Rwanda joined the East African Community and is aligning its budget, trade, and
immigration policies with its regional partners. The government has embraced an
expansionary fiscal policy to reduce poverty by improving education,
infrastructure, and foreign and domestic investment and pursuing
market-oriented reforms. Energy shortages, instability in neighboring states,
and lack of adequate transportation linkages to other countries continue to
handicap private sector growth. The Rwandan Government is seeking to become
regional leader in information and communication technologies. In 2012, Rwanda
completed the first modern Special Economic Zone (SEZ) in Kigali. The SEZ seeks
to attract investment in all sectors, but specifically in agribusiness,
information and communications technologies, trade and logistics, mining, and
construction.
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Source
: CIA |
Company
name
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Registered Name: |
QUALIMED |
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Requested Name: |
QUALIMED |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Avenue
17, Nyarutarama, Kigali, |
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Kigali, |
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Country: |
Rwanda |
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Phone: |
250-788458363/788552016 |
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Fax: |
250-788458363 |
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Email: |
None |
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Website: |
None |
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CREDIT
OPINION
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Financial Index as of
December 2014 shows subject firm with a medium risk of credit. |
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LEGAL
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Legal Form: |
Private Company |
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Date Incorporated: |
05-July-2008 |
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Reg. Number: |
Rwanda |
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Nominal Capital |
RWF.
1,000,000 |
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Subscribed Capital |
RWF.
1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Gabriel M. |
Manager |
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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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None |
Branches of the firm |
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OPERATIONS
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Registered to operate as dealers
in pharmaceuticals and medicinal drugs |
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Imports: |
Asia |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
Local agencies, firms and organizations |
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Employees: |
15 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Rwanda |
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Location: |
Leased premises, 10,000 square feet, |
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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: |
Rwandan Franc (RWF.) |
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Approx. Ex. Rate: |
1 US Dollar = 763.02
Rwandan Franc |
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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 RWF.) |
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2014 |
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Sales |
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450,000,000 |
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BANK
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Bank Name: |
Ecobank
(Rwanda) (EBR) |
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Branch: |
Rwanda |
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Comments: |
None |
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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. |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
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|
1 |
Rs.98.30 |
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Euro |
1 |
Rs.72.41 |
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RWF |
1 |
Rs.0.089 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
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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.