MIRA INFORM REPORT

Report No. :	346774
Report Date :	23.10.2015

IDENTIFICATION DETAILS

Name :	SDTM GHANA LIMITED
Registered Office :	North industrial Area, Kia-Accra, P. O. Box 30720, Kia-Accra
Country :	Ghana
Date of Incorporation :	14.05.2001
Legal Form :	Limited Corporation
Line of Business :	Dealers in general merchandise such as food products, beverages, hardware, electricals.
No. of Employees :	20 Employees

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
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.

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.

Source : CIA

SUBJECT'S NAME
Registered Name:	SDTM GHANA LIMITED
Requested Name:	SDTM GHANA LIMITED
Other Names:	SOCIETE DE DISTRIBUTION DE TOUTES MARCHANDISES
ADDRESS AND TELECOMMUNICATION
Physical Address:	North industrial Area, Kia-Accra
Postal Address:	P. o. Box 30720
	Kia-Accra
Country:	Ghana
Phone:	233-302228350/241998000
Fax:	233-302258882
Email:	None
Website:	None
LEGAL
Legal Form:		Limited Corporation
Date Incorporated:		14-May-2001
Reg. Number:		Ghana
Tax Number:		224E003218
Nominal Capital		GHS. 10,000
Subscribed Capital		GHS. 10,000
Subscribed Capital is Subscribed in the following form:
		Position		Shares
Mr. Ibrahim Ezzedine		MD
Mr. Atif Ezzedine		Director
Mr. Adel Ezzedine		Director
Mr. Zuhair Ezzeddine		Director
RELATED COMPANIES
None		Parent company.
None		Subsidiary company.
In Africa		Affiliated company.
None		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Registered to operate as dealers in general merchandise such as food products, beverages, hardware, electricals.
Imports:		Asia
Exports:		None
Trademarks:		None
Terms of sale:		Cash (30%) and 25-90 days (70%), invoices.
Main Customers:		Local agencies, stores, outlets etc
Employees:		20 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Ghana
Location:		Leased premises, 5,000 square feet,
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		Ghanaian Cedi (GHS.)
Approx. Ex. Rate:		1 US Dollar = 3.81 Ghanaian Cedi
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 GHS.)
			2014
Sales			22,500,000
BANK
Bank Name:		GUARANTY TRUST BANK
Branch:		25A, Castle Road Ambassadoril Area Ridge PMB CT 46 Cantoment Accra Ghana
Account No.:		201/10563991/1/1/0
Comments:		None
COMMENTS/ ADDITIONAL INFORMATION
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.64.89
UK Pound	1	Rs.100.39
Euro	1	Rs.73.52

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIT

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.