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ECIC was mentioned in the Beeld Newspaper as well as Netwerk24 this morning, with regard to the underwriting of the Cenpower project in Ghana.
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The Honorable Minister of Trade and Industry, Dr. Rob Davies The Director General of the Dti, Mr. Lionel October, Fellow members of the dti fraternity here present Representatives of the South African exporter community and all institutions involved in Africa-wide trade and investment Ladies and gentlemen, I greet you all.
I thank the organizers for having deemed if fit for me to say a few opening words on this important occasion of formal launch of the Trade Invest Africa (TIA) initiative as we map out the way to maximize opportunities from intra-Africa trade and investment.
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The creation of ECIC began 15 years ago in July 2001 when the Export Credit Insurance Corporation of South Africa LTD (ECIC), was given a mandate of filling a market gap through provision of medium to long term export credit and investment guarantees by underwriting bank loans for political and commercial risk insurance cover, on behalf of the South African government.
For more than forty years, up until 2001, all export reinsurance requirements fell to the Department of Trade and Industry and the Credit Guarantee Insurance Corporation of Africa Limited. When the private sector entered the export credit market, the short-term transaction market was amply catered for, but medium to long-term export transactions still had a need for a dedicated export credit agency, which was when the ECIC was established. Acting as an ‘insurer of last resort’, the ECIC steps in when commercial lenders are either unwilling to accept long-term risks or unable to. While the ECIC is part of a broader government policy it remains an independent limited liability company but with the government its sole shareholder and is enabled under the amended Export Credit and Foreign Investments Insurance Act of 1957.
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ECIC has been mentioned in Mining Review Africa, under the topic Aureus Mining secures $30M equity financing, CEO to resign.
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ECIC has been featured in the Pretoria News, both print and online under the topic Make doing business easy to boost cross-border trade; quoting ECIC Head of Business Development, Portia Gumbo Dube.
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ECIC CEO, Kutoane Kutoane and Senior Economist, Tsidiso Disenyana are currently attending the World Economic Forum on Africa in Rwanda, Kigali, under the theme “Connecting Africa’s Resources through Digital Transformation”. Both the CEO and Tsidiso will be participating in various discussion breakaways at the forum.
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ECIC has been featured in Engineering News, both print and online under the topic Africa’s 2015/16 growth projections will be difficult to meet; quoting ECIC COO, Mandisi Nkuhlu.
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ECIC has been featured in the JSE quarterly publication, both print and online, under the topic Insurance Policies. ECIC CEO, Kutoane Kutoane, was interviewed for this specific Q & A feature.
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ECIC Marketing Officer, Odirile Ramasodi, participated in a live radio discussion on Radio 2000 at the dti Open Day held on the 11th March 2016.
For the past three years, the dti has hosted a successful Open Day with an overwhelming attendance of more than 5 000 people. The exhibition comprised of all the agencies of the dti and other stakeholders.
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