ECIC IR 2023

Integrated Report 2023

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Business Model

Capitals employed The Corporation pursues its mandate through a set of strategic objectives aligned with national priorities. These are reflected in the African integration and industrial development focal area of the Industrial Policy Action Plan (IPAP) and aligned with encouraging private sector investment as indicated in Government’s Nine-Point Plan, as well as the National Development Plan (NDP), specifically the 2019-2024 Medium-Term Strategic Framework (MTSF). The crux of achieving our objectives lies in value creation. Financial capital Financial capital is created through insurance premiums and investment income. The Corporation maintains sufficient capital to meet regulatory and financial capital requirements to support its sum insured, with trade-offs in utilising available capital to fulfil its mandate through employing the capitals indicated herewith. Human capital The Corporation’s experienced employees and board embed a diverse, inclusive, and high-perfor mance culture to execute on the strategy. In return, employees benefit from a productive and ethical work environment that promotes engagement, wellness and diversity and rewards excellence. The capitals employed to create value are defined as:

Intellectual capital The Corporation’s intellectual capital vests in intangibles such as brand value, reputation, software, rights and licences, systems, policies, and protocols, as well as tacit knowledge that includes significant expertise in underwriting, undertaking due diligence research and analysing the reports to inform investment decisions and an understanding and appetite for managing political risk in Africa that is unmatched in the private sector. Social and relationship capital Leveraging relationship capital is imperative to accessing new markets and increasing business reach, as well as responding to the legitimate and reasonable needs, interests, and expectations of stakeholders in the best interest of the Corporation over time. A stakeholder-centric approach gives parity to all sources of value creation, including internal stakeholders who are always material to business, while this may or may not hold true for external stakeholders. The Corporation is B-BBEE Level 1 compliant and implements a range of social impact initiatives annually through its Corporate Social Responsibility (CSR) programme. The Corporation is a tax paying entity thereby contributing to funding public services and social programmes. Manufactured capital The Corporation’s business structure and opera tional processes require the use of office equip ment, office furniture and computer equipment, as well as the rental of an office building. Natural capital The Corporation impacts the natural environment directly in our operations through, inter alia, the use of water and energy and emphasising energy efficiency in our business environment and indirectly through financing projects that impact on natural resources.

YOUR EXPORT RISK PARTNER

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