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Report No. : |
351535 |
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Report Date : |
30.11.2015 |
IDENTIFICATION DETAILS
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Name : |
BAMBROS INVESTMENTS LTD |
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Registered Office : |
Makro Junction, Ejura Ashanti, P. O. Box EA20, Ejura Ashanti |
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Country : |
Ghana |
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Date of Incorporation : |
17.05.2002 |
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Com. Reg. No.: |
CA. 56 222 Ghana |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Importers and
distributors of farm machinery, production of food products such as soya
beans, groundnuts, cattle and maize. |
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No. of Employees : |
40 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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Ghana |
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 |
GHANA - ECONOMIC
OVERVIEW
Ghana's economy was strengthened by a quarter century of
relatively sound management, a competitive business environment, and sustained
reductions in poverty levels, but in recent years has suffered the consequences
of loose fiscal policy, high budget and current account deficits, and a
depreciating currency. Ghana has a market-based economy with relatively few
policy barriers to trade and investment in comparison with other countries in
the region. Ghana is well-endowed with natural resources. Agriculture accounts
for nearly one-quarter of GDP and employs more than half of the workforce,
mainly small landholders. The services sector accounts for about half of GDP.
Gold and cocoa exports, and individual remittances, are major sources of foreign
exchange. Expansion of Ghana’s nascent oil industry has boosted economic
growth, but the recent oil price crash has reduced by half Ghana’s 2015
anticipated oil revenue. Production at Jubilee, Ghana's offshore oil field,
began in mid-December 2010 and currently produces roughly 110,000 barrels per
day. The country’s first gas processing plant at Atubao is also producing
natural gas from the Jubilee field, providing power to several of Ghana’s
thermal power plants. As of 2015, the biggest single economic issue is the lack
of consistent electricity. While the MAHAMA administration is taking steps to
improve the situation, it will be the third or fourth quarter of 2015 before
any relief is visible. Ghana signed a $920 million extended credit facility with
the IMF in April, 2015 to help it address its growing economic crisis. The IMF
fiscal targets will require Ghana to reduce the fiscal deficit by cutting
subsidies, decreasing the bloated public sector wage bill, strengthening
revenue administration, and increasing revenues. The challenge for Ghana will
come as the MAHAMA Administration approaches the 2016 election cycle facing
public dissatisfaction in the midst of economic austerity.
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Source
: CIA |
SUBJECT'S
NAME
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Registered Name: |
BAMBROS
INVESTMENTS LTD |
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Requested Name: |
BAMBA BROTHERS |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Makro
Junction, Ejura Ashanti, |
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Postal Address: |
P.
o. Box EA20 |
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Ejura
Ashanti, |
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Country: |
Ghana |
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Phone: |
233-243385117/208158626/243727583 |
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Fax: |
233-243385117 |
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Email: |
ssbamba@yahoo.com/bambabrothers@yahoo.com |
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Website: |
None |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
17-May-2002 |
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Reg. Number: |
CA. 56 222 Ghana |
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Nominal Capital |
GHS.
10,000 |
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Subscribed Capital |
GHS.
10,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Mohammed Sal lisu
Bamba |
MD |
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Mr. Ahmed Bamba |
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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None |
Branches of the firm |
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OPERATIONS
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Registered to operate as
importers and distributors of farm machinery, production of food products
such as soya beans, groundnuts,cattle and maize |
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Imports: |
Asia |
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Exports: |
Europe, Asia |
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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: |
40 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Ghana |
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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: |
Ghanaian Cedi (GHS.) |
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Approx. Ex. Rate: |
1 US Dollar = 3.82
Ghanaian Cedi |
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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 GHS.) |
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2014 |
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Sales |
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22,000,000 |
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BANK
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Bank Name: |
Prudential
Bank Limited |
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Branch: |
Ghana |
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Comments: |
None |
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TRADE REFERENCES
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Experiences: |
Good |
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NOTARIAL BONDS
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.75 |
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1 |
Rs.100.68 |
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Euro |
1 |
Rs.70.88 |
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GHS |
1 |
Rs.17.67 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared by
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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.