ECIC Export Credit Insurance Scheme
OBJECTIVE
ECIC was established in 2001 under the Export Credit and Foreign Investments Insurance Act, 1957 (as amended), to provide political and commercial risk insurance to South African exporters of capital goods and related services. ECIC is a self-sustained, state-owned national export credit agency. ECIC is a registered Financial Service Provider, regulated by the FSCA and Prudential Authority (FSP No: 30656). Currently exempted in terms of FAIS Notice 78 of 2019.
BENEFICIARIES
Contractors and exporters of capital goods and related services, financiers, as well as investors.
BENEFITS
- The provision of political and commercial risk insurance facilitates export trade and cross border investments, that may not have taken place without ECIC cover.
- Through comprehensive insurance cover, there is risk mitigation for lenders.
- Under Basel III commercial banks are able to obtain capital relief for the covered exposures.
- These benefits/risk transfer should result in a lower margin that is charged to the borrower.
- Unlocks the availability of finance for the buyers of South African exporters’ goods and related services.
- The exporter may discount/cede the ECIC policy to the bank to unlock its balance sheet and improve its working capital position.
SHARE
Implementing agency
Contact details
Portia Dube
Head: Business Development
Tel: 012 471 3800
Email: info@ecic.co.za
Kimmy Moodley
Head: Underwriting
Tel: 012 471 3800
Email: info@ecic.co.za
Ismail Carr
Head: Marketing, Communications and CSR
Tel: 012 471 3800
Email: info@ecic.co.za
