ECIC IR 2023

Integrated Report 2023

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Foreword by the Minister of Trade,

Industry and Competition

telecommunications. The ECIC estimates that approximately R13 billion has been added to the South African gross domestic product (GDP) as a result of these transactions, and that it has facilitated the generation and sustainability of an estimated 53 000 job opportunities in South Africa over the past 10 years as a result of insured export transactions. Aligned to the ECIC mandate of making SA exporters attractive to international buyers, the Corporation approved five new transactions valued at $517 million during the financial year. Two of these transactions relate to the expanded mandate, which commenced on 31 May 2021 and includes short-term insurance support involving the export of non-capital goods (consumables) and related services. The report also reflects the work of the ECIC in implementing its core mandate, and the outcome of joint efforts to align work of the dtic’s entities towards a set of three shared outcomes: • Industrialisation by drawing the link between interventions and patterns of production, investment, export and job creation; • Transformation by connecting interventions to empowering black South Africans, women-and workers; • Capable state by reporting on improved performance and deeper partnerships. Focusing around these central outcomes allows the diverse set of entities in the dtic Group – comprising of regulators, financiers and technical institutions – to pool capacities and collaborate to best deliver for the South African people.

Ebrahim Patel

Export Credit Insurance Corporation It is my pleasure to table the Annual Report of the Export Credit Insurance Corporation (ECIC) for the 2022/23 financial year. Over the last 10 financial years the ECIC has grown considerably, supporting more than 45 export-led and investment-related projects across the African continent and other emerging economies. This resulted in approximately US$2.6 billion (R33.2 billion) worth of loans and investments supported by ECIC in various sectors, among them being power, mining, rail, construction and

YOUR EXPORT RISK PARTNER

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