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Report No. : |
313086 |
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Report Date : |
24.03.2015 |
IDENTIFICATION DETAILS
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Name : |
MAMBO BEVERAGES
LIMITED |
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Registered Office : |
1 Jason Moyo Avenue, P. o. Box CY 605 Causeway Harare |
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Country : |
Zimbabwe |
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Date of Incorporation : |
12.05.2005 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Engaged as dealers in alcoholic and Non-Alcoholic Beverages [NOTE: We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
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No of Employees : |
120 |
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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Zimbabwe |
C1 |
C1 |
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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 |
Zimbabwe ECONOMIC OVERVIEW
Zimbabwe's economy is growing despite continuing political uncertainty. Following a decade of contraction from 1998 to 2008, Zimbabwe's economy recorded real growth of roughly 10% per year in 2010-11, before slowing in 2012-13 due poor harvests and low diamond revenues. The government of Zimbabwe faces a number of difficult economic problems, including infrastructure and regulatory deficiencies, ongoing indigenization pressure, policy uncertainty, a large external debt burden, and insufficient formal employment. Until early 2009, the Reserve Bank of Zimbabwe routinely printed money to fund the budget deficit, causing hyperinflation. Dollarization in early 2009 - which allowed currencies such as the Botswana pula, the South Africa rand, and the US dollar to be used locally - ended hyperinflation and reduced inflation below 10% per year, but exposed structural weaknesses that continue to inhibit broad-based growth.
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Source
: CIA |
Registered Name: MAMBO BEVERAGES LIMITED
Requested Name: MAMBO
BEVERAGES LIMITED
Other Names: None
Physical Address: 1 Jason Moyo Avenue, Harare,
Postal Address: P. o. Box CY 605 Causeway
Harare,
Country: Zimbabwe
Phone: 263-4-62842
Fax: 263-4-62842
Email: mambobeverages@gmail.com
Website: None
Financial Index as of December 2014 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 12-May-2005
Reg. Number: Zimbabwe
Nominal Capital USD. 1,000
Subscribed Capital USD. 1,000
Subscribed Capital
is Subscribed in the following form:
Position
Mr. Joseph N. GM
Mr. Edward K. Manager
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in alcoholic and non-alcoholic
beverages
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(30%) and 25-90 days (70%), invoices.
Main Customers: Local
agencies, stores, firms and organizations
Employees: 120
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Zimbabwe
Location: Owned
premises, 100,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: US Dollars (USD.)
Approx. Ex. Rate: 1 US Dollar = 1 US Dollars
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 USD.)
2014
Sales 5,000,000
Bank Name: CBZ
Bank Limited
Branch: Zimbabwe
Comments: 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.62.29 |
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UK Pound |
1 |
Rs.93.02 |
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Euro |
1 |
Rs.67.36 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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 |
|
<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.