1 / 11

EXPORT CREDIT INSURANCE CORPORATION OF SOUTH AFRICA (ECIC)

EXPORT CREDIT INSURANCE CORPORATION OF SOUTH AFRICA (ECIC). PRESENTATION TO PORTFOLIO COMMITTEE ON TRADE & INDUSTRY 8 MAY 2002. ECIC REGULATORY FRAMEWORK. 22 JUNE 2001 ECIC INCORPORATED UNDER COMPANIES ACT 27 JUNE 2001 ECIC REGISTERED AS INSURER BY FSB 27 JUNE 2001 AUDITORS APPROVED BY AG

kolton
Download Presentation

EXPORT CREDIT INSURANCE CORPORATION OF SOUTH AFRICA (ECIC)

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. EXPORT CREDIT INSURANCE CORPORATION OF SOUTH AFRICA (ECIC) PRESENTATION TO PORTFOLIO COMMITTEE ON TRADE & INDUSTRY 8 MAY 2002 1

  2. ECIC REGULATORY FRAMEWORK 22 JUNE 2001 ECIC INCORPORATED UNDER COMPANIES ACT 27 JUNE 2001 ECIC REGISTERED AS INSURER BY FSB 27 JUNE 2001 AUDITORS APPROVED BY AG 27 JUNE 2001 PROCLAMATION OF AMENDMENT ACT 20 JULY 2001 ACCOUNTANT-GENERAL APPROVED BANK ACCOUNTS 31 JULY 2001 MINISTER OF FINANCE APPROVED ECIC UNDER PFMA 06 AUGUST 2001 CREDIT INSURANCE COMMITTEE NOMINATION FINALIZED 30 AUGUST 2001 ECIC AGREEMENT WITH MINISTER SIGNED 10 SEPTEMBER 2001 ECIC BOARD MEMBERS APPOINTED 22 NOVEMBER 2001 RESERVE BANK APPROVED EXCHANGE RISK COVER 2

  3. ECIC FUNCTIONS • FORMULATE EXPORT UNDERWRITING POLICY • EVALUATE POTENTIAL PROJECTS • ESTABLISH RATIONALE FOR SUPPORT • ASSESS EXPORT CREDIT RISK • STRUCTURE SECURITIES TO MITIGATE RISK • SET COUNTRY AND SECTOR CREDIT LIMITS • MANAGE AND DIVERSIFY EXPORT CREDIT RISK PORTFOLIO • MANAGE TOTALITY OF GOVERNMENT’S OBLIGATIONS 3

  4. ECIC ORGANISATIONAL FRAMEWORK 4

  5. ECIC STAFF COMPOSITION MALE FEMALE TOTAL BLACK WHITE TOTAL MANAGEMENT 3 - 3 1 2 3 PROFESSIONAL 4 6 10 7 3 10 ADMINISTRATION - 7 7 6 1 7 ____ ______ ____ ______ ______ ____ 7 13 20 14 6 20 35% 65% 70%__30%__ 5

  6. REINSURANCE PORTFOLIO SHORT TERM: PHASED OUT 30/06/01 31/03/02 R3,1 BILLION R40 MILLION LONG TERM: CONTINUE 30/06/01 31/03/02 R9,6 BILLION R8,7 BILLION 6

  7. NEW BUSINESS FROM 2 JULY 2002 EXPORT INVESTMENT CREDIT GUARANTEES INSURANCE APPLICATIONS 54 4 APPROVED 32 3 DECLINED 10 1 IN-PROGRESS 12 - EXPORT CREDIT INSURANCE VALUE APPROVED: R7,5 BILLION INVESTMENT GUARANTEES VALUE APPROVED: R1,2 BILLION 7

  8. SADC – 13 APPLICATIONS APPROVED 8

  9. TOTAL APPROVALS - 32 9

  10. ACTUAL POLICIES ISSUED INSURANCEVALUE 5 R3,5 BILLION INVESTMENTSVALUE 1 ± R1 BILLION 10

  11. TARGETS STRATEGIC GOALS • CUSTOMERS • PERFORMANCE • ALLIANCES • STEWARDSHIP STRATEGIC PLANNING LEKGOTLA CONCLUDED 5 MAY 2002 REINSURANCE AGREEMENT MIGA JUNE 2002 REFINEMENT OF LOCAL CONTENT DEFINITION BREAK EVEN CHALLENGE 11

More Related