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Integrated Report 2024

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OVERVIEW BY THE CHIEF EXECUTIVE OFFICER

Ntshengedzeni Gilbert Maphula

“The African continent has an infrastructure deficit with climate change being the biggest risk, but we see the opportunity in this for technological advancement. ECIC’s role is to promote the export of goods and services aimed at growing the economy thus creating jobs in support of Government’s policy of industrialisation through localisation. We encourage local companies to take up the challenge to increase local production especially for renewables and the green economy.” – Ntshengedzeni Gilbert Maphula

Highlights and Significant Developments

1. US$560 million worth of approved transactions – no transactions were approved for the financial year. 2. Four approved transactions – no transactions were approved for the financial year. 3. US$70 million worth of approved transactions within expanded sectoral coverage a. The uptake for short-term transactions has been very low since banks are not willing to provide support to small and medium enterprises, especially with bond products that are required to support execution of contracts. b. Three transactions to the equivalent value of US$8,3 million were approved for the financial year.

The Corporation has achieved a Level 2 B-BBEE score for the second time, as well as another unqualified audit. This demonstrates the strong corporate governance environment within which the Corporation operates and the strong pursuit of the transformation agenda to build an inclusive economy. The Performance Section on page 91 details the achievements against the strategic objectives for the year. We achieved nine of our 15 strategic objectives, which reflects a determined effort by the Corporation despite the tough economic and operating conditions. Six of the 15 targets that were not achieved are:

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