ECIC IR 2023

Integrated Report 2023

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NMSI (Zimbabwe) – $193 million The project entails the design, construction and equipping of 2 District Hospitals and 16 Health Centres (Phase 1), and the design, construction and equipping of 3 District Hospitals and 6 Health Centres (Phase 2) in Zimbabwe. The proposed District Hospitals will offer primary and secondary health care services (specialist services, training of medical personnel and outreach services) at the district level and the proposed Health Centres will offer direct primary healthcare services (pre-natal, post-natal, x-rays, ultrasound scans, rehab services, laboratory services, minor procedures including caesarean, dental, eye and CT Scanning) at the local level. A total of 3 991 job opportunities (man-hours) are estimated to be created/sustained in South Africa during the construction and operational phase. Across both phases, the largest beneficiary of employment creation/sustainability is estimated to accrue to semi-skilled labourers in South Africa. RAM Shopfitting (Nigeria) – R13 million This is the second transaction under the expanded mandate. The project entails the designing, manufacturing, shipping, and installation of office furniture in Victoria Island, Lagos. The estimated impact of the ECIC support scheme reflects the creation/sustainability of 16 job opportunities, which are estimated to be created/

sustained during the construction phase only and these are mainly in the manufacturing sector.

MEASURING THE SOCIO ECONOMIC IMPACT OF ECIC SUPPORT SCHEME Measurement based on export credit drawdowns recorded in ECIC’s insurance portfolio from 1 April 2022 to 31 March 2023, confirmed that the ECIC succeeded in facilitating six projects with total drawdowns amounting to R1.4 billion. The estimated impact of the ECIC support scheme reflects the creation/sustainability of 4 487 job opportunities, of which a total of 3 528 job opportunities are estimated to be created/sustained during the construction phase, and an estimated 959 job opportunities are expected to be sustained on an annual basis during the operational phase. The estimated employment impact on the South African economy is expected to be most pronounced in the construction phase. These impacts are estimated to be most reflective in the Manufacturing and Financial and Business Services sectors. The exchange rate used is $1 = ZAR17.8139 which was the prevailing rate on 31st March 2023. The drawn amount and the average local content for the year was used to determine the impacts on South Africa.

Table 4: Draws for the period 1 April 2022 to 31 March 2023

Total Draws (1 April 2022 to 31 March 2023) @ spot rate 17,18139

SA content average achieved Financial Year 2022-2023

Consolidated Drawdowns (Q1 to Q4)

Projects

Loan Amount

Zimborders

$129 136 125

$26 345 270 R469 312 006,68

64,38%

Liqhobong Bridge Facility

R182 184 000

R158 341 044 R158 341 044,10

46,75%

SNEL

$27 500 000

$170 486

R3 037 020,56

25,74%

EDM

$70 064 769

$7 661 799 R136 486 517,47

4,65%

Vamed

$29 903 539

$29 903 539 R532 698 653,04

50,00%

Letseng

R136 377 767

R106 008 200 R106 008 199,56

50,00%

R1 405 883 441,39

YOUR EXPORT RISK PARTNER

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