Export Credit Insurance cover is provided for transactions involving capital goods and/or services exported outside South Africa. Through the provision of credit insurance to banks and suppliers, the ECIC facilitates term finance for such transactions, enabling South African exporters to compete effectively in international markets.
Cover is available against both political risk events and commercial risk events. Political risks covered include: confiscation, expropriation and nationalisation; change in law; transfer restriction and inconvertibility; war and civil disturbance; breach of contract by the host government; and protracted default by a sovereign borrower or guarantor. Terrorism and piracy may be covered on a case-by-case basis. Commercial risks covered include insolvency (sequestration, liquidation, or judicial management of the borrower) and protracted default (undisputed payment default by the borrower).
The ECIC normally provides insurance cover for credit terms with a minimum period of two years. Repayment periods of more than ten years can be considered on a case-by-case basis. The premium cost is determined by the political risk in the host country, the credit risk assessment of the borrower or project, and the length of the delivery and repayment period.
A South African content requirement applies: at least 70% SA content on the ECIC-supported loan amount must be achieved. For projects on the African continent, this may comprise at least 50% South African content, with the balance made up of content from the host country or any other African country.
An additional Foreign Exchange Risk Cover facility is available for USD-denominated transactions, administered by ECIC on behalf of the South African Reserve Bank. This provides guaranteed rates of exchange to South African contractors, eliminating the impact of currency fluctuations during the delivery phase of a project.
Export Credit Insurance is available to:
The product is applicable to both project finance transactions and corporate or sovereign borrower arrangements.
Levels of cover:
Credit terms:
Premium: Determined by the political risk profile of the host country, the credit risk of the borrower or project, and the length of the delivery and repayment period.
Export Credit Insurance may be used to cover the following transactions:
In addition, Foreign Exchange Risk Cover is available for USD-denominated transactions to protect South African contractors against exchange rate fluctuations during the delivery period.
South African Content Requirement:
SA content includes: cost of materials and goods from South African suppliers (net of imported components); wages and salaries paid in South Africa; freight charges paid in South Africa; insurance premiums on policies issued in South Africa; finance charges and fees paid to South African financial institutions; fees for services performed in South Africa; and fees and profits accruing to the exporter.
African content includes: content from the host country; and/or content from any other African country.
Other conditions:
Applications for Export Credit Insurance should be submitted directly to ECIC. The following steps typically apply:
For transactions denominated in USD, an application for Foreign Exchange Risk Cover may be submitted alongside the export credit insurance application. This cover is administered by ECIC on behalf of the South African Reserve Bank.
Before applying for Export Credit Insurance, prepare the following:
Use this checklist to assess whether Export Credit Insurance is suitable for your transaction:
Applicants must provide: export contract details; foreign borrower financial information; South African content breakdown; financing structure details; project feasibility documentation (for project finance); and confirmation of currency denomination and any SARB foreign exchange risk requirements.
A minimum of 70% South African content on the ECIC-supported loan amount is required. For projects in Africa, at least 50% South African content is required, with the balance from the host or other African country. South African content is defined to include materials, labour, freight, insurance, finance charges, and fees paid in South Africa.
To apply for ECIC Export Credit Insurance or to request more information, contact ECIC directly:
The above indicative premium rates are based on USD amounts.
Please note that the above premium rates are indicative, non-binding, and are based on limited assumptions regarding specific project risks. ECIC is not legally bound by indicative premiums. Actual premiums will be determined by ECIC upon submission of detailed project information or a completed insurance application form and may vary substantially as further information becomes available. We do not accept any liability for loss or damage of any nature, including indirect or consequential loss which may be attributable to the reliance on and use of the premium calculator. Please contact us for verification of any of the information provided.
IMPORTANT:
These results are indicative. Final terms to be confirmed by the fund agency.
Most applications are delayed or declined due to incomplete submissions. Preparing the items below upfront will significantly improve your chances.
Core documents (required for almost all funds)
Project‑specific documents (depending on the fund)
Additional requirements
Timelines vary by fund and depend heavily on the quality and completeness of your application.
Email Address: info@ecic.co.za
Contact Number: 012 471 3800
Portia Dube: 012 471 3800
Use the following tools to help you apply:
