|Export Credit Insurance Corporation of South Africa (ECIC) | |
Export Credit Agency (ECA) in South Africa
About Export Credit Insurance Corporation of South Africa
The Export Credit Insurance Corporation of South Africa (ECIC) is a self-sustained, state-owned national export credit agency. Established in 2001 to provide political and commercial risk insurance to South African exporters of capital goods and related services, our mission is to provide export credit and investment insurance solutions in support of South African capital goods and services by applying best practice risk management principles.
The ECIC provides insurance that enables South African exporters to offer their services and products on the international market. It has a particular focus on emerging markets in Africa that are considered too risky for conventional insurers.
Its overarching goal – and its mandate from the South African government as its sole shareholder – is to make South African exporters attractive to international buyers to attract foreign income, and stimulate domestic economic growth and create local jobs.
The ECIC’s various insurance products are formulated to protect all parties involved in cross-border projects, from the institutions that provide financing, to the foreign buyers, to the exporters themselves.
It is not uncommon for a single project to be linked to multiple ECIC policies covering both commercial risk (the risk that a buyer will not honour its contractually agreed payments for whatever reason) and political risk (the risk that a project fails due to the actions of the project’s host government).
A summary of Export Credit Insurance Corporation of South Africa
Products and services offered by Export Credit Insurance Corporation of South Africa
- Bond insurance
- Export credit insurance
- Investment insurance
Raw Materials – From tobacco to spices, gold to bronze, commodities represent a large proportion of our trade finance portfolio
Finished Goods – Our innovative structuring capabilities allow us to put together complex finance structures, even if the end goods are finished
Metals – From scrap metal to alloys, we help traders and distributors access trade, receivable or PO finance for iron, steel and non-ferrous metals
Are you an exporter based in South Africa?
See our TFG South Africa Export guide here .