ECIC AR 2024 9TH

E

D

H

S

I

L I

N

B

2

0

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0

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S

1

E

Integrated Report 2024

E X P O R T C R E

L T D

O C

A S

C

R I

D I

F

T

A

I

N

H

S

T

U

U

R

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C

O

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R

Sovereign loans

Sovereign Exposure

2 500

2 000

1 500

1 000 US$ Millions

500

0

Mar-19

Mar-20

Mar-21

Mar-22

Mar-23

Mar-24

Mar-25

Mar-26

Mar-27

Mar-28

Mar-29

Total exposure (US$)

Sovereign exposure

Figure 20: Sovereign Exposure

Figure 20 reflects on sovereign exposure excluding pipeline. Following payment of Ghana claims, in Q4 2024FY and Q1 2025FY, Ghana remains the largest sovereign exposure at US$285m by March 2024 which comprised loans for funding a power plant, and a self-help electrification programme. The second largest exposure is in Zimbabwe which amounts to US$53 million loans funding the rehabilitation of toll-roads. The Mozambique loan amounts to US$34 million for the electrification network rehabilitation programme. The Angola loan amounts to US$26 million for military hospitals project. The Swaziland loan to fund the road rehabilitation was fully repaid towards end of 2023.

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