The Small and Medium Transactions (SMT) programme is tailored to cater for two categories of export transaction: small transactions (up to USD 10 million) and medium transactions (above USD 10 million and up to USD 20 million). The central feature of the programme is that ECIC has pre-approved underwriting criteria tied to each transaction size tier, streamlining the assessment process.
Where the foreign buyer or borrower meets the relevant pre-approved criteria, the South African exporter can have comfort that ECIC will support the transaction. In instances where the application does not meet the pre-approved requirements, the normal ECIC approval process for suppliers’ or buyers’ credit cover applies.
The programme provides 100% political and commercial risk cover, with the insured facility capped at 85% of the South African contract price and a minimum down payment of 15%. The credit term may not exceed five years and repayment may be structured monthly, quarterly, or semi-annually. Transactions may be denominated in ZAR or USD.
A South African content requirement applies: at least 70% SA content on the ECIC-supported loan amount must be achieved (or at least 50% for African continent projects, with the balance from the host country or any other African country).
The pre-approved criteria are tiered by transaction size: transactions under USD 1 million require two years of trade references and management accounts; USD 1–5 million requires audited or signed financials; USD 5–10 million requires three years of audited financials plus specific financial ratios; and USD 10–20 million applies the most stringent financial criteria.
The SMT programme is available to:
The SMT programme is specifically targeted at export transactions below USD 20 million, making it particularly relevant for small and medium-sized South African exporters entering or growing in international markets.
The SMT programme provides export credit insurance cover on the following terms:
The SMT programme covers South African export contracts valued as follows:
The programme covers both suppliers’ credit (where the South African exporter extends credit) and buyers’ credit (where a South African financial institution provides credit to the foreign buyer). The foreign buyer or borrower can be a private or public company or any entity with borrowing capacity.
General programme criteria:
Pre-approved criteria by exposure tier:
Under USD 1 million:
USD 1–5 million:
USD 5–10 million:
USD 10–20 million:
South African Content Requirement: Minimum 70% SA content on the ECIC-supported loan amount (or minimum 50% for African continent projects, with the balance from the host country or any other African country).
The SMT programme is designed for a streamlined application process:
Prepare the following before applying:
Use this checklist to assess whether the SMT programme is suitable for your transaction:
Required documents vary by transaction size tier: for under USD 1 million — trade references and management accounts; for USD 1–5 million — bank report, credit report, and 2 years of audited/signed financials; for USD 5–10 million — 3 years of audited financials with specific financial ratios; for USD 10–20 million — 3 years audited financials with stricter cash flow, leverage, and debt service ratio 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 country or any 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 the ECIC SMT programme 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:
