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Report No. : |
338278 |
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Report Date : |
01.09.2015 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE SIDAF SARL |
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Registered Office : |
Grand Marche Rod Woko, CMS, 11 Ouagadougou, Burkina Faso |
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Country : |
Burkina
Faso |
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Date of Incorporation : |
01.01.2005 |
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Legal Form : |
Company Limited By Shares |
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Line of Business : |
· Consumer goods wholesale · Non-specialized wholesale of food, beverages and tobacco · Non-specialized wholesale trade |
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No. of Employees : |
11 |
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 : |
Unknown |
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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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Burkina Faso
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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 |
BURKINA FASO - ECONOMIC OVERVIEW
Burkina Faso is a poor, landlocked country that depends on
adequate rainfall. About 80% of the population is engaged in subsistence
farming and cotton is the main cash crop. The country has few natural resources
and a weak industrial base. Cotton and gold are Burkina Faso’s key exports and
Burkina Faso’s economic growth and revenue depends on global prices for the two
commodities. The Burkinabe economy experienced high levels of growth over the
last few years and gold accounted for about three-quarters of the country’s
total export revenues in 2013. The country has seen an upswing in gold
exploration, production, and exports. Burkina Faso experienced a number of
public protests over the high cost of living, corruption, and other
socioeconomic issues in 2013 and the fall of the COMPAORE government in 2014
gave rise to laborers pushing for better pay and working conditions. A new
three-year IMF program was approved in 2013 to focus on improving the quality
of public investment and ensuring inclusive growth. Political insecurity in
neighboring Mali, unreliable energy supplies, and poor transportation links
pose long-term challenges.
|
Source
: CIA |
SOCIETE SIDAF SARL
DBA: Sidaf SARL
We have contacted an employee who was not
authorized to disclose any kind of information and advised to present the
subject matter via e-mail.
We sent a questionnaire to the email available
requesting more information from the company but we did not receive a reply.
We were not able to verify with the
registration of the subject matter in the Official registry of Burkina Faso -
Registre du Commerce et du Crédit Immobilier.
Main Address: Grand
Marche Rod Woko, CMS
Zip code/City: 11
Ouagadougou, Burkina Faso
Telephone: +226
25335724
+226
25346250
Fax: +226
25301972
E-mail: sidafeta@yahoo.fr
WIN Worldbox No.: BF0000020347
Established: 2005
Line of Business: Consumer goods wholesale
Industry Division: Wholesale trade
Industry-code (NACE): 4639 Non-specialized wholesale of food, beverages and tobacco
4690
Non-specialized wholesale trade
Banks: Unknown
Employees: 11
CNPJ: -
Board of Directors:
Manager Eric Onate Lonan
Manager Abdoulaye
Traore
Director Abdoulaye
Traore
According to our research in non-official
sources Mr Abdoulaye Traore is originally from Ivory Coast and has business in
Ivory Coast and Burkina Faso.
Mr Abdoulaye Traore is also related to SAC-SA,
Burkina Faso and a representative of the brand Hero Moto Corp in Burkina Faso
and Ivory Coast.
However we were not able to confirm the above
information with the official sources.
Public information:
No legal actions could be obtained during
investigation.
Legal form: Company
limited by shares
Incorporation date: 01.01.2005
Balance sheet filing date: -
Tax Contributor Number (CNPJ): -
Legal status: active
Responsible Register: Registre
de Commerce et de Crédit Mobilier Burkina Faso
Entry Deleted Name
active Societe Sidaf
SARL
The company is not listed on the
WorldCompliance database.
Import and Export:
Import
Payment history:
No payment history is available.
Owners/-s:
Class: unknown
Name: Abdoulaye
Traore
City/Country: Burkina
Faso/BF
The name of the shareholders and the exact
percentage were not disclosed.
Financial information:
Private companies in Burkina Faso are not
required to disclose financial statements. Upon direct approach it was not
possible to obtain further details.
Exchange rate:
US$ 1,00
= XOF 570.750) - Official rate on 27.08.2015
Main Activities:
The subject matter is engaged in wholesale
distribution of non-durable goods and general trade.
The subject matter imports from the USA and
India.
Operations & branches:
At the address, Grand Marche Rod Woko, CMS, 11
Ouagadougou, Burkina Faso, we find the company's head office.
Staff:
11
Company's Background:
We have been unable to obtain when the full
register details.
News
"Ivory Coast - Burkina Faso Hero Moto
Corp settles
The family of the two wheels is growing. Hero
Moto Corp Ltd has just made its entry into Africa. This Indian company opened a
representation in Burkina Faso and Côte d'Ivoire. The official launch of its activities
took place last month in Ouagadougou (Burkina Faso). This, in the presence of
Minister of Trade and Handicrafts, the Speaker of the Chamber of Commerce and
Industry and General Manager of Coris Bank International. In line with its
global expansion ambitions, Hero Moto Corp Ltd, the largest manufacturer of
two-wheeled world, decided to put on Burkinabe and Ivorian markets its brand
'Hero'. For the marketing of its machines, this structure has partnered with
one of the most famous houses in Burkina Faso: the African Society of Cycles
(SAC-SA). With this alliance, SIDAF Group which is a branch of the Sac-Sa has
been appointed authorized distributor of the range of two-wheel Hero. The vice
president of Hero Moto Corp of Sales and Services, Deepak Mokashi, welcomed the
opening of this representation in Burkina Faso. "(...) This is the first
time we walk with our products, African soil, especially in West Africa. We
hope that this adventure will experience a success" said Deepak Mokashi,
he noted that the African continent is a strategic market for his company.
"Our vision is to provide practical products, economic consumption for
each customer. We are committed to serving both wheels of clients across
Africa" he argued. Noting that he is convinced that their product will
interest the maximum customers. Deepak Mokashi, explaining the choice of
Burkina Faso for the opening of this representation, said that this is one of
stable countries in the subregion. Added to this is the density of its market
in terms of both wheels. He noted that his company annually produces 32,000
motorcycles. And "A motorcycle two in India is manufactured by Hero,"
noted the vice president of this multinational. Before announcing that the
construction of an assembly plant is planned in Burkina Faso, 2015. For its
part, Abdoulaye Traoré the General Administrator and Chief of SAC-SA represents Hero Moto Corp in Burkina Faso and
Ivory Coast, underlined that both wheels are the reference means of transport
in Burkina Faso. And Ivory Coast is no exception. For he will say, the last ten
years, there has been a widespread use of these devices north-central Ivory
Coast. "My company is very honored to have been chosen as the authorized
distributor of the brand in these countries", welcomed Mr Traoré, who
announced that nine Hero motorcycle models are already available on the market
Burkina Faso. Abdoulaye Traore also informed that the representation of Bouaké
(Ivory Coast) will be operational in a few weeks. The Minister of Industry,
Trade and Handicrafts of Burkina Faso, Patiendé Arthur Kafando, chairman of the
ceremony, expressed his gratitude to the officials of this company who trusted
in Burkina to house its representation. This implementation for him, is an
important step in the promotion of the two wheels of the country "Honest
Men". It is worth noting that this ceremony was also marked by the launch
of the Premium 223 cc motorcycle, "Karizma ZMR" of the
"Glamour" and "Super Splendor"."
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.26 |
|
|
1 |
Rs.101.99 |
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Euro |
1 |
Rs.74.79 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.