MIRA INFORM REPORT

Report No. :	491318
Report Date :	16.02.2018

IDENTIFICATION DETAILS

Name :	MABHO MARBLES LIMITED
Registered Office :	Plot No. 246, Mtoni Street, Jangwani Beach, Kinondoni, P. O. Box 66632, Dar Es Salaam
Country :	Tanzania
Date of Incorporation :	10.05.2009
Legal Form :	Limited Corporation
Line of Business :	Subject operates as dealers in marbles and related products.
No. of Employees :	12

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
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)
Tanzania	B2	B2

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

TANZANIA - ECONOMIC OVERVIEW

Tanzania is one of the world's poorest economies in terms of per capita income, but has achieved high growth rates based on its vast natural resource wealth and tourism. GDP growth in 2009-17 averaged 6%-7% per year. Dar es Salaam used fiscal stimulus measures and easier monetary policies to lessen the impact of the global recession. Tanzania has largely completed its transition to a market economy, though the government retains a presence in sectors such as telecommunications, banking, energy, and mining.

The economy depends on agriculture, which accounts for more than one-quarter of GDP, provides 85% of exports, and employs about 65% of the work force. All land in Tanzania is owned by the government, which can lease land for up to 99 years. Proposed reforms to allow for land ownership, particularly foreign land ownership, remain unpopular.

The financial sector in Tanzania has expanded in recent years and foreign-owned banks account for about 48% of the banking industry's total assets. Competition among foreign commercial banks has resulted in significant improvements in the efficiency and quality of financial services, though interest rates are still relatively high, reflecting high fraud risk. Recent banking reforms have helped increase private-sector growth and investment.

The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's aging infrastructure, including rail and port, which provide important trade links for inland countries. In 2013, Tanzania completed the world's largest Millennium Challenge Compact (MCC) grant, worth $698 million, but in late 2015, the MCC Board of Directors deferred a decision to renew Tanzania’s eligibility because of irregularities in voting in Zanzibar and concerns over the governments use of a controversial cybercrime bill.

Under the new government elected in 2015, Tanzania has developed an ambitious development agenda focused on creating a better business environment through improved infrastructure, access to financing, and education progress, but implementing budgets remains challenging for the government.

Source : CIA

SUBJECT'S NAME
Registered Name:	MABHO MARBLES LIMITED
Requested Name:	MABHO MARBBLES LIMITED
Other Names:	None
ADDRESS AND TELECOMMUNICATION
Physical Address:	Plot No. 246, Mtoni Street, Jangwani Beach, Kinondoni,
Postal Address:	P. o. Box 66632
	Dar Es Salaam,
Country:	Tanzania
Phone:	255-682141122/767444040
Fax:	255-682141122
Email:	mahbomarblesdar@gmail.com
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:		10-May-2009
Reg. Number:		--
Nominal Capital		TZS. 1,000,000
Subscribed Capital		TZS. 1,000,000
Subscribed Capital is Subscribed in the following form:
		Position		Shares
Mahaveer S.		Director
Adnan Ahmed		Manager
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 dealers in marbles and related products.
Imports:		Asia
Exports:		None
Trademarks:		None
Terms of sale:		Cash (30%) and 25-90 days (70%), invoices.
Main Customers:		firms and organizations
Employees:		12 employees.
Vehicles:		2 motor vehicles.
Territory of sales:		Tanzania
Location:		Rented premises, 1,500 square feet,
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		Tanzanian Shillings (TZS.)
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 TZS.)
			2017
Sales			650,000,000
BANK
Bank Name:		Diamond Trust Bank (Tanzania)
Branch:		Tanzania
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 63.92
UK Pound	1	INR 89.55
Euro	1	INR 79.68
TZS	1	INR 0.028

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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