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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

492871

Report Date :

23.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ALI ASSI

 

 

Registered Office :

Secteur 10 Ouagadougou, BP 5798 Ouagadougou

 

 

Country :

Burkina Faso

 

 

Date of Incorporation :

17.09.2013

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Registered to operate as general traders dealing with household goods such as tableware, kitchenware and also and hygienic products such as toilet articles

 

 

No. of Employees :

12

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

C

 

Credit Rating

 

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

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

(30.09.2017)

Current Rating

(31.12.2017)

Burkina Faso

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

 

 

BURKINA FASO - ECONOMIC OVERVIEW

 

Burkina Faso is a poor, landlocked country that depends on adequate rainfall. About 90% 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 - gold has accounted for about three-quarters of the country’s total export revenues. Burkina Faso’s economic growth and revenue depends largely on production levels and global prices for the two commodities. The Burkinabe economy experienced high levels of growth over the last few years, and 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, while the fall of the COMPAORE government in 2014 and failed coup in September 2015 disrupted economic activity and strained government finances. A new three-year IMF program, approved in 2013, was recently completed. Discussions are currently underway on a new program. Political insecurity in neighboring Mali, unreliable energy supplies, and poor transportation links pose long-term challenges.

 

Source : CIA

 

 

 

Company name

 

 

Registered Name:

ALI ASSI

Requested Name:

ALI ASST

Other Names:

None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Secteur 10 Ouagadougou,

Postal Address:

BP 5798

 

Ouagadougou,

Country:

Burkina Faso

Phone:

226-50308507

Fax:

226-50308507

Email:

None

Website:

None

 

 

CREDIT OPINION

 

 

Financial Index as of December 2017 shows subject firm with a medium risk of credit. We recommend Secured Credit.

 

 

LEGAL

 

 

Legal Form:

Sole Proprietorship

Date Incorporated:

17-Sept-2013

Nominal Capital

CFA. 1,000,000

Subscribed Capital

CFA. 1,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Mr. Ali Assi

MD

100%

 

 

 

 

RELATED COMPANIES

 

None

Parent company.

None

Subsidiary company.

None

Affiliated company.

Mr. Ali Assi

Shareholder of subject firm.

None

Branches of the firm

 

 

OPERATIONS

 

Registered to operate as general traders dealing with household goods such as tableware, kitchenware and also and hygienic products such as toilet articles

Imports:

Asia

Exports:

None

Trademarks:

None

Terms of sale:

Cash (60%) and 25-90 days (40%), invoices.

 

 

Main Customers:

Local agencies, stores   

Employees:

12 employees.

Vehicles:

3 motor vehicles.

Territory of sales:

Burkina Faso

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.)

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.)

 

 

2017

Sales

 

250,000,000

 

 

BANK

 

 

Bank Name:

Banque Commerciale du Burkina

Branch:

Burkina Faso

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 65.05

UK Pound

1

INR 90.41

Euro

1

INR 79.83

CFA

1

INR 0.12

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

TPT

 

 

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.