EXPORT CREDIT INSURANCE CORPORATION OF SOUTH AFRICA SOC LTD

ECIC Solutions

Financial Institutions

ABSA CAPITAL/ BARCLAYS AFRICA 011 895 6000/7074
CITIBANK 011 944 1000/0694
DEVELOPMENT BANK OF SOUTH AFRICA 011 313 3911
HSBC 011 219 7224
INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA 011 269 3000
INVESTEC BANK LIMITED 011 286 7350
NEDBANK CAPITAL 011 294 0098/4444
RAND MERCHANT BANK (FIRSTRAND BANK LIMITED) 011 282 4437
STANDARD BANK OF SOUTH AFRICA LIMITED 011 636 9115/5159
STANDARD CHARTERED BANK 011 217 6600

Export Credit

Buyer Credit Cover:

ECIC provides insurance cover to a financial institution domiciled in South Africa which has negotiated a financial agreement with a foreign buyer who is promoting a particular project of which:

The proceeds of the loan may be paid directly to the exporter/buyer during the delivery period, and the foreign buyer undertakes to repay the loan at the agreed credit terms. The loan may be structured as project finance, corporate finance, asset backed finance or sovereign finance deal.

ECIC provides 100% Political Risk Insurance Cover and 85% to 100% Commercial Risk Insurance Cover (case by case) on the loan amount.

Guaranteed rates of exchange is available.

Investment Insurance

Commercial Loans Insurance Cover:

ECIC provides cover against political risks to financial institutions that provide commercial loans to foreign enterprises and governments for projects or other business ventures that would enable private investments in emerging market economies.

Such a loan for the financing of an investment could be associated with a new project as well as the expansion or financial restructuring of existing projects and acquisitions involving the privatization of state-owned enterprises.

Approval must be obtained from the host government and the South African Reserve Bank.

ECIC provides 90% Political Risk insurance on the loan value as well as the breach of contract by the host government of its contractual obligations

Eligibility Requirement:

For transactions on the African continent the minimum SA content should be 50% and combined SA content plus content from other African countries (including the host country) should not be less than 70%. For transactions outside the African continent, the minimum SA content applicable to such export credit facilities as well as commercial loans shall be 70%.

The facility must be provided by a financial institution domiciled in South Africa or a subsidiary of such a financial institution, which will be insured. The entity need not necessary be a South African company or a South African owned company. Approval must be obtained from the host country government (if required) as well as the South African Reserve Bank for the provision of the loan.

The export contract must have a minimum credit term of 2 years and a maximum of 10 years or more if required. Repayment periods more than 10 years can be considered on a case by case basis depending on the nature of the project.

The exporter will be required to pay a 15% down payment.

EXPORT CREDIT INSURANCE CORPORATION OF SOUTH AFRICA SOC LTD

+27 12 471 3800 |
+27 12 471 3850 |
info@ecic.co.za
Block C7 & C8 Eco Origins Office Park, 349 Witch Hazel Avenue,
Highveld Ext 79, Centurion, 0157 South Africa
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