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Report No. : |
308928 |
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Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
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Name : |
CREDI GENERAL CO SA |
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Registered Office : |
Siege Social 631, Av. Du Grand Séminaire, Face Marché Hédzranawoé, B P 12153, Lome |
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Country : |
Togo |
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Date of Incorporation : |
12.04.2009 |
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Com. Reg. No.: |
697/2009 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operates as
Financial Services Providers. |
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No. of Employees : |
15 Employees |
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 : |
No Complaints |
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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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Togo |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
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 |
TOGO - ECONOMIC OVERVIEW
This small, sub-Saharan economy
depends heavily on both commercial and subsistence agriculture, which provides
employment for a significant share of the labor force. Some basic foodstuffs
must still be imported. Cocoa, coffee, and cotton generate about 40% of export
earnings with cotton being the most important cash crop. Togo is among the
world's largest producers of phosphate and Togo seeks to develop its carbonate
phosphate reserves. The government's decade-long effort, supported by the World
Bank and the IMF, to implement economic reform measures, encourage foreign
investment, and bring revenues in line with expenditures has moved slowly.
Progress depends on follow through on privatization, increased openness in
government financial operations, progress toward legislative elections, and
continued support from foreign donors. Foreign direct investment inflows have
slowed over recent years. Togo completed its IMF Extended Credit Facility in
2011 and reached a HIPC debt relief completion point in 2010 at which 95% of
the country's debt was forgiven. Togo continues to work with the IMF on
structural reforms.
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Source
: CIA |
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Registered Name: |
CREDI GENERAL CO
SA |
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Requested Name: |
CREDI GENERAL CO SA |
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Other Names: |
SOCIÉTÉ CREDI-GENERAL CO-SA(CG) |
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Physical Address: |
Siege Social 631, Av. du Grand Séminaire, Face
marché Hédzranawoé , |
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Postal Address: |
B P
12153 |
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|
Lome |
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Country: |
Togo |
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Phone: |
228-22617874 Ext 107 |
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Fax: |
228-22617875 |
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Email: |
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Website: |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
12-April-2009 |
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Reg. Number: |
697/2009 |
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Nominal Capital |
CFA.
1,000,000,000 |
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Subscribed Capital |
CFA.
1,000,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
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Mr. M. Didier |
Director |
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Mr. W.K.Messan Adolphe |
Finance |
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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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Registered to operate as
financial services providers |
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Imports: |
Africa, 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: |
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: |
Togo |
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Location: |
Rented premises, 2,500 square feet, |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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Currency Reported: |
West African Franc (CFA.) |
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Approx. Ex. Rate: |
1 US Dollar = 580.59 West
African 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 CFA.) |
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2014 |
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Sales |
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750,000,000 |
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Bank Name: |
Banque
Atlantique Togo |
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Account Number: |
T138-01003-041212150009-44 |
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Branch: |
Lome, Togo |
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Comments: |
Other Banks |
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Bank Name: |
Banque Togolaise pour le Commerce
et l'Industrie |
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Branch: |
Lome, Togo |
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Account Number: |
TG024-01030-020494900101
73 |
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Experiences: |
Good |
None
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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.62.28 |
|
|
1 |
Rs.96.21 |
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Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.