MIRA INFORM REPORT

Report No. :	489717
Report Date :	06.02.2018

IDENTIFICATION DETAILS

Name :	COOPERATIVE DES AMIS DU ZANZAN (COAMZA)
Registered Office :	Siege Social Bondoukou, Abidjan, 01 BP 12838 Abidjan 01
Country :	Cote D’Ivoire
Date of Incorporation :	02.11.2015
Com. Reg. No.:	CI-BKO-2015-B-58
Legal Form :	Limited Corporation
Line of Business :	Purchase and importation of agricultural products, mainly cashew nuts
No. of Employees :	30

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	Slow but Correct
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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
Cote D’Ivoire	C1	C1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

COTE D’IVOIRE - ECONOMIC OVERVIEW

Cote d'Ivoire is heavily dependent on agriculture and related activities, which engage roughly two-thirds of the population. Cote d'Ivoire is the world's largest producer and exporter of cocoa beans and a significant producer and exporter of coffee and palm oil. Consequently, the economy is highly sensitive to fluctuations in international prices for these products and to climatic conditions. Cocoa, oil, and coffee are the country's top export revenue earners, but the country has targeted agricultural processing of cocoa, cashews, mangoes, and other commodities as a high priority. Mining gold and exporting electricity are growing industries outside agriculture.

Following the end of more than a decade of civil conflict in 2011, Cote d’Ivoire has experienced a boom in foreign investment and economic growth. In June 2012, the IMF and the World Bank announced $4.4 billion in debt relief for Cote d'Ivoire under the Highly Indebted Poor Countries Initiative. For the last 5 years Cote d'Ivoire's growth rate has been among the highest in the world.

Source : CIA

SUBJECT'S NAME
Registered Name:	COOPERATIVE DES AMIS DU ZANZAN (COAMZA)
Requested Name:	COAMZA COOPERATIVE AGRICOLE DES AMIS DU ZANZAN
Other Names:	COAMZA COOPERATIVE AGRICOLE DES AMIS DU ZANZAN
ADDRESS AND TELECOMMUNICATION
Physical Address:	Siege Social Bondoukou, Abidjan,
Postal Address:	01 BP 12838
	Abidjan 01,
Country:	Cote D’Ivoire
Phone:	225-08481331/20317700
Fax:	225-20214050
Email:	None
Website:	None
CREDIT OPINION
Financial Index as of December 2017 shows subject firm with a medium risk of credit.
LEGAL
Legal Form:		Limited Corporation
Date Incorporated:		02/11/2015
Reg. Number:		CI-BKO-2015-B-58
Nominal Capital		CFA. 25,000,000
Subscribed Capital		CFA. 25,000,000
Subscribed Capital is Subscribed in the following form:
		Position		Shares
Mr. Daniel Amechia		MD
RELATED COMPANIES
None		Parent company.
None		Subsidiary company.
None		Affiliated company.
None		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Registered to Purchase and importation of agricultural products, mainly cashew nuts
Imports:		Asia
Exports:		None
Trademarks:		None
Terms of sale:		Cash (40%) and 25-90 days (60%), invoices.
Main Customers:		Distributors, firms and organizations
Employees:		30 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Cote D’Ivoire
Location:		Rented premises, 5,000 square feet,
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		West African Franc (CFA)
Fiscal Year End:		December 31, 2017
Inflation:		According to information given by independent sources, the inflation at December 31st, 2017 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in CFA)
		2016	2017
Sales		610,150,000	750,000,000
BANK
Bank Name:		Banque de l'Habitat de Côte d'Ivoire
Branch:		Cote D’Ivoire
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	INR 64.03
UK Pound	1	INR 90.40
Euro	1	INR 79.73
CFA	1	INR 0.12

Note: Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	NIT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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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.