MIRA INFORM REPORT

 

PRELIMINARY REPORT

 

 

Report No. :

495338

Report Date :

28.02.2018

 

 

 

 

 

 

IDENTIFICATION DETAILS

 

Name :

SHUKUDAD GENERAL TRADING PLC

 

 

Registered Office :

P. O. Box 54666, Addis Ababa,

 

 

Country :

Ethiopia

 

 

Date of Incorporation :

10.04.2006

 

 

Legal Form :

Private Limited Corporation 

 

 

Line of Business :

Exporters of Peanuts, Sesame Seeds, Kidney Beans and Other Related Products

 

 

No. of Employees :

10 Employees

 

 

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)

Ethiopia

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

 

 

 

 

 

 

ECONOMIC OVERVIEW

 

Ethiopia's economy is based on agriculture, but the government is pushing to diversify into manufacturing, textiles, and energy generation. Coffee is a major export crop. The agricultural sector suffers from poor cultivation practices and frequent drought, but recent joint efforts by the Government of Ethiopia and donors have strengthened Ethiopia's agricultural resilience, contributing to a reduction in the number of Ethiopians threatened with starvation. The banking, insurance, telecommunications, and micro-credit industries are restricted to domestic investors, but Ethiopia has attracted significant foreign investment in textiles, leather, commercial agriculture and manufacturing. Under Ethiopia's constitution, the state owns all land and provides long-term leases to the tenants; land use certificates are now being issued in some areas so that tenants have more recognizable rights to continued occupancy and hence make more concerted efforts to improve their leaseholds. While GDP growth has remained high, based on high saving and high investment, per capita income is among the lowest in the world. Ethiopia's economy continues on its state-led Growth and Transformation Plan and is scheduled to issue another development plan in 2015. Ethiopia has achieved high single-digit growth rates through government-led infrastructure expansion and commercial agriculture development. Ethiopia in late 2014 issued its first sovereign bond, generating $1 billion in revenue for a 10 year note.

 

Source : CIA

 

 

 

 

 

SUBJECT'S NAME

 

Registered Name:

SHUKUDAD GENERAL TRADING PLC

Requested Name:

SHUKUDAD GENERAL TRADING PLC

Other Names:

None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

 

Postal Address:

P. O. Box 54666

 

Addis Ababa

Country:

Ethiopia

Phone:

251-11-8517976

Cell:

251-911604426/911528189

Fax:

251-11-8517976

Email:

shukudad@gmail.com

Website:

None

 

 

LEGAL

 

Legal Form:

Private Limited Corporation 

Date Incorporated:

10-April-2006

Reg. Number:

Ethiopia

Nominal Capital

ETB. 1,000,000

Subscribed Capital

ETB. 1,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Mr. Henok Tariku

Director

 

Mr. Molalegn Mkuria

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 exporters of peanuts, sesame seeds, kidney beans and other related products

Imports:

None

Exports:

Asia

Trademarks:

None

Terms of sale:

Cash (30%) and 25-90 days (70%), invoices.

 

 

Main Customers:

Distributors, stores, outlets etc  

Employees:

10 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Ethiopia

Location:

Rented premises, 2,000 square feet,

 

 

AUDITORS AND INSURANCE

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

 

 

FINANCE

 

Currency Reported:

Ethiopian Birr (ETB.)

Fiscal Year End:

December 31, 2014

Inflation:

According to information given by independent sources, the inflation at December 31st, 2014 was of 13%.

 

Financial Information not Submitted

 

 

 

Profit and Loss (expressed in ETB.)

 

 

2014

Sales

 

25,000,000

 

 

BANK

 

Bank Name:

Bank of Abyssinia

Branch:

Ethiopia

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 64.85

UK Pound

1

INR 90.58

Euro

1

INR 79.97

ETB

1

INR 2.36

 

 

INFORMATION DETAILS

 

Report Prepared by :

KET

 

               

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