ECIC IR 2023

ANNUAL Financial Statements for the year ended 31 March 2023

E

D

H

S

I

L I

N

B

2

0

A

0

T

S

1

E

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

I

R

T

P

A

O

R

Notes to the Financial Statements

Executive remuneration

Basic salary R’000

Bonus paid R’000

Provident fund R’000

Cellphone allowance R’000

Other benefits* R’000

Acting allowance R’000

Total R’000

2023

K Kutoane – Former Chief Executive Officer and Executive Director** C Kgoale – Former Company Secretary*** M Nkuhlu – Chief Executive Officer**** N Mkhathazo – Chief Financial Officer S Esterhuisen – Chief Actuarial & Investments N Maphula – General Counsel (Acting COO)***** J Omollo – Chief Risk Officer S Thwala – Assistant Company Secretary (Acting Company Secretary)****** X Mpanza – Company Secretary******* D Naicker – Head: Legal (Acting General Counsel)*******

1 046

1 594

-

16

16

-

2 672

262

-

32

6

14

-

314

2 666

1 023

258

36

309

191

4 483

2 223

828

346

30

52

-

3 479

2 518

947

322

25

16

-

3 828

1 981

824

313

30

221

187

3 556

2 135

824

338

30

24

-

3 351

-

-

-

-

-

61

61

202

-

20

-

9

-

231

-

-

-

-

-

135 574

135

13 033

6 040

1 629

173

661

22 110

Basic salary R’000 3 925 1 263 2 503 2 014

Bonus paid R’000

Provident fund R’000

Cellphone allowance R’000

Other benefits* R’000

Total R’000

2022

K Kutoane – Chief Executive Officer (Executive Director) C Kgoale – Company Secretary M Nkuhlu – Chief Operations Officer N Mkhathazo – Chief Financial Officer S Esterhuisen – Chief Actuarial & Investments

1 538

-

44 21 30 30 24 30 30

76 64

5 583 1 864 4 004 3 213 3 662 2 976 2 964

389 999 799 917 723 723

127 246 319 307 271 300

226

51

2 397 1 716 1 894

17

N Maphula – General Counsel J Omollo – Chief Risk Officer

236

17

15 712 24 266 * Other benefits comprise of travel allowance, medical benefits, connectivity allowance, daily travel allowance and social security contributions. ** The contract term for Mr K Kutuone as CEO came to an end in June 2022 *** Mr C Kgoale resigned as company secretary in June 2022 ****Mr M Nkuhlu (COO) was appointed to act as CEO and was confirmed as CEO by the Minister of dtic in December 2022. ***** Mr M Maphula (General Counsel) was appointed to act as COO in July 2022 ****** Ms S Thwala (Assistant company secretary) was appointed to act as company secretary in July 2022 ******* Ms X Mpanza (Company secretary) was appointed in February 2023. ******** Ms D Naicker (Head: Legal) was appointed to act as General Counsel in July 2022. 6 088 1 570 209 687

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