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Press Office - ECIC

ECIC

ECIC is a self-sustained, state-owned national export credit agency. The Corporation is a registered financial service provider and regulated by the Financial Services Board (FSB). To be at the leading edge of medium/long term export credit and investment insurance business, with specific focus on project finance underwriting, customer needs, and prudent portfolio and risk management. To facilitate and encourage South African export trade by underwriting export credit loans and investments outside the country, in order to enable South African contractors to win capital goods and services' contracts in other countries.

Topic

Gold worth billions smuggled out of Africa

By: Reuters     Updated 3 hours ago Billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East – a gateway to markets in Europe, the United States and beyond – a Reuters analysis has found. Customs data shows that the UAE imported $15.1-billion worth of gold... 

FAW SA aims to produce 1 200 trucks at its Coega plant this year 

By: Irma Venter     Updated 4 hours ago FAW Vehicle Manufacturers South Africa (FAW SA) aims to assemble 1 200 trucks at its Coega plant, in the Eastern Cape, this year, slightly up from the 1 153 units produced last year. FAW SA sales and marketing GM Cheng Zhang says the local arm of the Chinese truck giant sold 986 units in the... 

Defy South Africa celebrates R1.2bn investment milestone 

By: Shirley le Guern     23rd April 2019 A R121-million brownfield development at the Defy plant, in Jacobs, Durban, has seen the addition of an automated plant to manufacture top loader washing machines for both the local and export markets. Defy South Africa CEO Evren Albas, Turkish holding company Arçelik Global chief technology... 

MSU receives $7.8m grant for agricultural research institute in Malawi

By: Schalk Burger     23rd April 2019 Researchers at the Michigan State University (MSU), in the US, received a $7.8-million grant from nonprofit Agricultural Transformation Initiative (ATI) to build an independent policy research institute in Malawi dedicated to improving the livelihoods of smallholder farmers and transforming the... 

Tanzania eyes 10 000 MW power generation capacity by 2025

By: Reuters     23rd April 2019 Tanzania aims to have six times its current power generation capacity by 2025 through investment in thermal and renewable energy, deputy energy minister Subira Mgalu told Parliament on Tuesday. The East African country boasts reserves of over 57-trillion cubic feet of natural gas, but faces... 

Ongoing copper cable theft negatively affects power capacity

By: Mamaili Mamaila     19th April 2019 Ongoing copper cable theft from companies, such as State-owned power utility Eskom, has devastating effects on the local copper industry, says Copper Development Association Africa (CDAA) executive chairperson Evert Swanepoel. 

Independent power producers and Weet-Bix

By: Saliem Fakir     19th April 2019 There is a vociferous attack on independent power producers (IPPs) and renewables in South Africa, despite the energy crisis that the country is experiencing and the fact that the long-term prospects for State-owned electricity utility Eskom look rather bleak. Eskom is a choke point, just as... 

Import licensing website

By: Riaan de Lange     19th April 2019 There are multiple World Trade Organisation (WTO) agreements. The WTO oversees about 60 agreements that have the status of international legal texts. As a member of the WTO, a country must, on accession, sign and ratify all its agreements. The WTO has 164 members, which account for 98% of world... 

Petrol, bread and cereals drive CPI up to 4.5% in March

By: Marleny Arnoldi     18th April 2019 The annual headline consumer inflation accelerated to 4.5% in March, from 4.1% in February, owing to another 74c fuel price hike in the same month. Land Bank economist Tebogo Mashabela on Friday commented on Statistics South Africa’s Consumer Price Index release, pointing out that the fuel... 

Fortescue takes a hit from Veronica

By: Esmarie Iannucci     18th April 2019 Iron-ore major Fortescue Metals has tightened its full year export guidance following Tropical Cyclone Veronica, in late March. The company on Thursday reported that the wet weather conditions resulted in the loss of five days of shipments, equating to some 2.5-million tonnes during the three... 

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