Executive Summary

YYYYY is an experienced professional in the logistics and freight industry and has more than 12 years of experience while working as the managing director of XXXXX Ltd, Tema, Ghana.

XXXXX Limited will be operating a 100% owned subsidiary in Canada with an investment of nearly CAD 200,000, in order to operate in the growing logistics and freight services industry in Canada. XXXXX Limited will be transferring the services of Mr. YYYYY from the parent company in Ghana to the subsidiary in order to manage the operations in Canada.

The company aims to establish this subsidiary in Canada, where the freight brokerage industry is worth more than CAD 26 billion and is expected to grow at a rate of 3.8%, which is more than the anticipated GDP growth rate of Canada, at 2.9%.

Mr. YYYYY has been working with the parent company for the past 12 years and fulfills all the requirements under the intra company transfer regulations. The company will be working towards ensuring that our customer support services, technology-driven processes and continuous development in our logistics services makes us better than other freight companies in the market. Mr. XXXX expects that, once his intra company transfer work permit is approved by the immigration authorities, he will move to Canada and work on the transformation of the business in the country. Following are the preliminary financial projections developed for the subsidiary:

CAD 216K

Cash balance after 5 years of operations

20% Growth in annual revenue

75% Gross profit

7% Average net profit after depreciation

CAD 69K

Net profit – 5th year

Affiliate Company Summary

Company Summary

XXXXX Limited (known simply as XXXX) is a limited liability company incorporated in 2009 under Act 179. The company is in the business of haulage, clearing and forwarding and is based at the Port of Tema. XXXX possesses at least twelve years of experience conveying containers for large companies, including GPHA (Ghana Port and Harbour Authority) in Ghana, Sodcom Burkina in Burkina Faso, Maersk, B5 Plus, etc. Starting in 2009 with a small number of clients, XXXX has grown to become one of the most reliable Tema-based haulage, clearing and forwarding companies.

Integrity

Being honest throughout the service delivery process is a non-negotiable value at XXXX. In particular, we respect the varied interests of our clients and therefore we never compromise on being very honest in handling their documents and consignments.

Commitment

We are very committed to what clients engage us to do. We are consequentially committed to everything that empowers us to honour the engagement in a manner that projects us as good corporate citizens.

Timeliness

Timely delivery is a key in succeeding in all business sectors but particularly so in the logistics industry, where each moment of delay draws the owner (and therefore the agent) closer to incurring demurrage and rent charges, for example. Indeed, as a value, timeliness cascades from the upper echelon to the shop floor. The authorized capital of XXXXX Limited is GH¢ 500,000,000 and the issued capital is GH¢ 10,000. Mr. YYYYY is the 100% owner of XXXXX Limited. Mr. XXXX is the key person who is primarily responsible for managing the operations of the Affiliate Company. He has worked to expand the reach of the business across Ghana over the past 12 years since starting the company in 2009. His experience and expertise in business management is second to none and this is the reason his business generates substantial profits, as highlighted in his financial statements. XXXX is customs licensed registered company, also registered with Canada ports and harbours authority as freight forwarder and transport company. XXXX is a member of Canada-Ghana chamber of commerce in Ghana since 2017. YYYYY is customs clearing proficiency certificate holder and an international logistics and transport certificate holder. Team in Ghana is made of a managing director (myself), a General operation manager, 2 office assistants, 6 drivers and 4 field clearing staff.