ECIC AR 2024 9TH

E

D

H

S

I

L I

N

B

2

0

A

0

T

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

O

A

S

N

F

C

O

E

N

C

O

O

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R

T

P

A

O

R

WHERE WE OPERATE The total Sum insured by Country of the insurance portfolios is as follows:

Table 7: Countries in which ECIC operates

2024

2024

2023

2023

Country rating

Country rating

R’000

R’000

Ghana

5 760 927

5 7 994 941

5

Mozambique

1 229 126

5 1 225 816

5

Zimbabwe

3 771 519

7 4 448 708

7

Malawi

425 623

5

Lesotho

234 270

5

288 192

5

Angola

496 953

5

532 699

5

Zambia

24 792

5

46 193

5

Ethiopia

1 444 585

6

Tanzania

38 333

5

68 813

5

Eswatini

52 119

5

DRC

254 710

5

252 677

5

Nigeria

11 881

6

Congo Brazzaville

63 399

6

59 465

6

South Africa*

42 565

4

117 000

4

Cote d' Ivoire

48 598

5

45 582

5

Botswana

17 506

3

11 965 192

17 031 800

* South Africa country exposure results from ECIC providing insurance cover under the ECIC expanded mandate to cover short-term debt.

The Corporation uses an internal country rating method to assess country risks. The country rating method is benchmarked with that of other export credit agencies, and where there is inadequate information, consultations are made with Department of International Relations and Cooperation (DIRCO) to ascertain its view on the political environment in countries where the Corporation carries risk or plans to take risk. Below are the country rating definitions: 1: Highest credit quality. “1” rating denotes the lowest expectation of credit risk. It is assigned only in case of exceptionally strong capacity for timely payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events.

2: Very high credit quality. “2” rating denotes a very low expectation of credit risk. It indicates very strong capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events. 3: High credit quality. “3” rating denotes a low expectation of credit risk. The capacity for timely payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to changes in circumstances or in economic conditions than is the case for higher ratings.

YOUR EXPORT RISK PARTNER

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