MIRA INFORM REPORT

Report No. :	339236
Report Date :	09.09.2015

IDENTIFICATION DETAILS

Name :	FAVEUR DIVINE DE DIEU SARL
Registered Office :	Situé à: Mènontin, Lot: 2066-O Cotonou,, 04 BP 0160
Country :	Benin
Date of Incorporation :	02.10.2014
Com. Reg. No.:	RB/COT/14B10979
Legal Form :	Limited Corporation
Line of Business :	Subject operate as a general trading company dealing with activities relating to purchase, sale, exchange, international trade, import, export, storage, and warrant age, transport of all products, goods, wares and articles Import and distribution of textiles, leather goods, building materials, hardware, sanitary, plumbing, appliances, consumables computer, office automation and telecommunications vehicles, motorcycles, tires, spare parts and machinery, agricultural, new or used, the exploitation of agricultural farms, breeding, slaughtering, packing, freezing and packaging of chickens, cows, sheep, rabbits the acquisition and operation of all agricultural property import, purchase, storage, distribution, sale and export of refined petroleum products and derivatives, commission and brokerage; and all types of activities and in transit and deposit services.
No. of Employees :	10

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
--	NB	New Business	--

Status :	New Business
Payment Behaviour :	Unknown
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

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Benin	B2	B2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

BENIN - ECONOMIC OVERVIEW

The economy of Benin remains underdeveloped and dependent on subsistence agriculture, cotton production, and regional trade. Growth in real output had averaged almost 4% before the global recession and it has exceeded that level in 2013-14. Inflation has subsided over the past several years. In order to raise growth, Benin plans to attract more foreign investment, place more emphasis on tourism, facilitate the development of new food processing systems and agricultural products, and encourage new information and communication technology. Specific projects to improve the business climate by reforms to the land tenure system, the commercial justice system, and the financial sector were included in Benin's $307 million Millennium Challenge Account grant signed in February 2006. The 2001 privatization policy continues in telecommunications, water, electricity, and agriculture. An insufficient electrical supply continues to hamper Benin's economic growth though the government recently has taken steps to increase domestic power production. Private foreign direct investment is small, and foreign aid accounts for the majority of investment in infrastructure projects. Cotton, a key export, suffered from flooding in 2010-11, but high prices supported export earnings. Benin has appealed for international assistance to mitigate piracy against commercial shipping in its territory. In 2012, Benin became eligible for a second Compact under the Millennium Challenge Corporation, which is expected to be signed in 2015.

Source : CIA

Company name
Registered Name:	FAVEUR DIVINE DE DIEU SARL
Requested Name:	FAVEUR DIVINE DE DIEU SARL
Other Names:	None
ADDRESS AND TELECOMMUNICATION
Physical Address:	Situé à: Mènontin, Lot: 2066-O
Postal Address:	04 BP 0160
	Cotonou,
Country:	Benin
Phone:	229-95610515
Fax:	229-95610515
Email:	None
Website:	None
CREDIT OPINION
Projected Financial Index as of December 2015 shows subject firm with a medium risk of credit.
LEGAL
Legal Form:		Limited Corporation
Date Incorporated:		02-Oct-2014
Reg. Number:		RB/COT/14B10979
Nominal Capital		CFA. 10,000,000
Subscribed Capital		CFA. 10,000,000
Subscribed Capital is Subscribed in the following form:
		Position		Shares
Mr. Samadou Bachabi		Director
RELATED COMPANIES
None		Parent company.
None		Subsidiary company.
None		Affiliated company.
None		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Registered to operate as a general trading company dealing with activities relating to purchase, sale, exchange, international trade, import, export, storage, and warrant age, transport of all products, goods, wares and articles Import and distribution of textiles, leather goods, building materials, hardware, sanitary, plumbing, appliances, consumables computer, office automation and telecommunications vehicles, motorcycles, tires, spare parts and machinery, agricultural, new or used, the exploitation of agricultural farms, breeding, slaughtering, packing, freezing and packaging of chickens, cows, sheep, rabbits the acquisition and operation of all agricultural property import, purchase, storage, distribution, sale and export of refined petroleum products and derivatives, commission and brokerage; and all types of activities and in transit and deposit services.
Imports:		Asia
Exports:		None
Trademarks:		None
Terms of sale:		Cash (30%) and 25-90 days (670%), invoices.
Main Customers:		Local agencies, stores, outlets,firms and organizations
Employees:		10 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Benin
Location:		Rented premises, 2,000 square feet,
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		West African Franc (CFA.)
Approx. Ex. Rate:		1 US Dollar = 582.81 West African Franc
Projected Fiscal Year End:		December 31, 2015
Projected Inflation:		According to information given by independent sources, the inflation at December 31st, 2015 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in CFA.)
			2015
Projected Sales			50,000,000
BANK
Bank Name:		Banque Internationale du Bénin
Branch:		Benin
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.66.60
UK Pound	1	Rs.102.30
Euro	1	Rs.74.61

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	TPT

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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