EXPORT CREDIT INSURANCE CORPORATION OF SOUTH AFRICA SOC LTD

1. Introduction

The South Africa – Africa Trade and Investment Promotion Programme (“SATIPP”) is a joint programme launched by the African Export-Import Bank (“Afreximbank”) and the Export Credit Insurance Corporation of South Africa SOC Limited (“ECIC”), with the aim of promoting and expanding trade and investment between South Africa and other African countries. Programme Amount: The Programme is in an amount of US$1 billion.

2. Purpose

The aim of SATIPP is to facilitate the expansion of South Africa’s trade and investment with the rest of Africa to promote regional economic integration. Specifically, SATIPP will provide:

  • Finance and/or payment assurances / guarantees in support of South Africa’s trade and investments with other African countries;
  • Finance for projects being promoted by South African businesses in other African countries;Support towards export of capital goods and services from South Africa to other African countries;
  • Support towards importation of equipment required for improving the export competitiveness of South African exports;
  • Support to South African companies bidding for large contracts in other African countries;
  • Support towards the activities of South African small and medium enterprises (SMEs) in regional supply chains;
  • Support to South African exporters through capacity building, enhancement of export marketing skills as well as trade and market information initiatives;
  • Advisory services to South African investors to facilitate a higher volume of trade and investment between South Africa and other African countries.

3. Benefits

The Programme offers many advantages and benefits, combining the expertise and capacity of both ECIC and Afreximbank. Some of the main benefits include:

  • Expansion of South African exports of value added goods and services as well as investments into other African countries.
  • Growth of South African SMEs by enabling them to expand their exports by offering credit facilities and other risk mitigation instruments.
  • Improved accessibility to trade finance solutions by using a variety of different instruments such as Letters of Credit (LC) Confirmation, Pre-export Finance, Payment Guarantees, Country Risk Guarantees, Investment Guarantees, Forfaiting and Factoring solutions to South African companies exporting to or importing from other African countries.
  • Increased investments by South African businesses seeking to invest in other African countries by offering Investment and Country Risk Guarantees.
  • Expanded opportunities for South African companies bidding for and executing large contracts in other African countries by offering a variety of instruments and financing instruments such as Bid Bonds, Performance Bonds, Advance Payment Guarantees, Working Capital Guarantees, Supplier Finance as well as Export Credit Guarantees.

4. Eligibility

a. Eligible Transactions

  • Transactions supporting the exchange of goods and services between South Africa and other African countries;
  • Projects being sponsored by South African companies in other African countries;
  • Projects being sponsored in South Africa with an export orientation;
  • Transactions supporting capital and investment flows between South Africa and other African countries;
  • Transactions supporting investments in manufacturing and processing of goods and services that will be traded between South Africa and other African countries.

b. Eligible Items

All goods and services will be eligible for support except:

  • Armaments, ammunition and other military equipment;
  • Psychotropic drugs or narcotics;
  • All items for which international trade is prohibited for environmental reasons or by international conventions; and
  • Pornographic and obscene materials.

5. How To Apply

The following information will be required at application stage:

  • Brief information about the transaction or project;
  • Company Profile and Ownership Structure;
  • Board and Management Profiles;
  • 3 years most recent financial statements and cash flow projections, as may be applicable;
  • Business plan;
  • Project Information Memorandum (where applicable);
  • Any other information as may be required under SATIPP.

6. Contacts

All enquiries regarding this programme should be addressed to:

Afreximbank:

SATIPP Working Group: satipp@afreximbank.com

ECIC:

Portia Gumbo-Dube,
Head: Business Development

Tel: +27 (0) 12 471 3800/77
Email: info@ecic.co.za

Address:
Block C7 & C8, Eco Origins Of­fice Park,
349 Witch Hazel Avenue,
Highveld Ext 79,
Centurion,
South Africa

Website: www.ecic.co.za

ECIC is a registered financial services provider: FSB No. 30656


Headquarters
72B El-Maahad El-Eshteraky StreetRoxy, Heliopolis, Cairo
11341, Egypt
P.O. Box 613Heliopolis, Cairo 11757, Egypt

T. +(202) 2456 4100/1/2/3/4
F. +(202) 2456 4110
business@afreximbank.com

afreximbank.com

ECIC Headquarters
Export Credit Insurance Corporation of South Africa SOC
LtdBlock C7 & C8 Eco Origins Office Park, 349 Witch Hazel
Avenue,Highveld Ext 79, Centurion, 0157, South Africa

T. +27 (0) 12 471 3800
F. +27 86 681 2672
info@ecic.co.za

ecic.co.za

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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