Export Credit Insurance Corporation of South Africa SOC Ltd (ECIC)

Contact Details

Physical: Block C7 & C8, Eco Origins Office Park, 349 Witch-Hazel Avenue, Highveld Ext 79, Centurion, 0157
Postal: PO Box 7075, Centurion, 0046
Tel: 012 471 3800
Fax: 012 471 3850
Web:

Overview

The mission of the Export Credit Insurance Corporation of South Africa SOC Ltd (ECIC) is 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.

To support this mandate, the ECIC evaluates export credit and foreign investment risks and provides export credit and foreign investment insurance cover on behalf of the government; and underwrites medium and long-term loans, including equity investments for the export of capital goods and services from South Africa. The ECIC extends its services as far as it can, consistent with preserving the financial viability essential to its long-term support of capital goods and services; and provides sound and efficient financial services that contribute to public confidence and comply with international standards.

Through its mission, the Corporation is committed to reaching the strategic goals of the government, namely: acceleration of economic growth; creation and preservation of employment opportunities; and the reduction of economic inequalities.

Office Bearers/Management

Chairperson
Mr MM Lesejane
Chief Executive Officer
Mr K Kutoane

Chairperson:
Mr Motshoanedi M Lesejane
Deputy Chairperson:
n/a
Board Members:
Ms Vuyelwa Matsaliza
Mr Abel Mawela
Ms Lindelani Mphaphuli (Company Secretary)
Ms Pumla Ncapayi
Ms Siobhain O'Mahony
Mr Lefentse Radikeledi
Mr W van Der Spuy
Chief Executive Officer:
Mr Kutoane Kutoane
Chief Financial Officer:
Ms Clarinda Simpson
Senior Management:
Mr Ntshegendzeni Maphula (General Counsel)
Ms Andiswa Mosai (Director)
Mr Mandisi Nkuhlu (Chief Operations Officer)
Mr John Omollo (Chief Risk Officer)
Communications Officers:
Mr Ismail Carr (Head: Marketing and Communications)

Financial Information

All Financial Values: R'0002015/162014/152013/142012/13
 
AUDIT OUTCOMEClean AuditClean AuditClean AuditClean Audit
 
FINANCIAL POSITION
Current Assetsn/an/an/a3 152 704
Non-Current Assetsn/an/an/a1 808 577
Total Assets9 432 3127 964 5635 549 6674 961 281
Current Liabilitiesn/an/an/a200 139
Non-Current Liabilitiesn/an/an/a1 536 272
Total Liabilities4 184 4563 640 3241 812 7001 736 410
Total Net Assets5 247 8564 324 2393 736 9673 224 871
 
FINANCIAL PERFORMANCE
Total Revenue965 621732 219747 8311 123 044
Revenue from Exchange Transactionsn/an/an/an/a
Revenue from Non-Exchange Transactionsn/an/an/an/a
Total Expenditure(977 123)(664 429)(703 912)(1 061 019)
Employee Costs(42 480)(54 210)(43 636)(23 923)
Surplus/(Deficit) for Year(11 502)67 79043 92062 025
 
CASH FLOW
Net Cash Flows from Operating Activities(102 136)754 222387 333284 452
Net Cash Flows from Investing Activities(3 459 234)2 492 227(2 749 760)(21 184)
Cash & Cash Equivalents at End of Year439 9603 817 639122 9502 223 410
 
UIFW EXPENDITURE
Unauthorised Expenditure---n/a
Irregular Expenditure---n/a
Fruitless & Wasteful Expenditure16931n/a
 
HUMAN RESOURCES
Posts Approvedn/an/an/an/a
Posts Filledn/an/an/an/a
 
SourcesAnnual ReportAnnual ReportAnnual Report n/a
NoteNot audited by AGSA. Independent Audit Report. Not audited by AGSA. Independent Audit Report.Not audited by AGSA. Independent Audit Report.Not audited by AGSA. Independent Audit Report.

Overseeing Department/Entity

Annual Reports


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