R/€ = 16.95 Change: -0.06
R/$ = 14.39 Change: -0.01
Au 1202.14 $/oz Change: 3.70
Pt 826.00 $/oz Change: -2.41

Press Office - 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.


Asia's thermal coal demand poised to grow

By: Esmarie Swanepoel     19th June 2018 Asia’s thermal coal demand could increase by some 400-million tonnes by 2030, a new report commissioned by the Minerals Council of Australia (MCA) found. Asian thermal coal demand is expected to grown from the 740-million tonnes in 2017, to 1.147-billion tonnes in 2030. 

Protect scattered data in physical, virtual, and cloud workloads with the Active Backup suite

18th June 2018 Synology today announced the official release of two major backup applications in Active Backup suite of packages, the official version of Active Backup for Office 365 that supports SaaS cloud backup, and the beta version of Active Backup for Business that provides data availability for workloads... 

Centrica, Tokyo Gas join Anadarko's Mozambique LNG project as buyers

By: Reuters     15th June 2018 Britain's Centrica and Japan's Tokyo Gas have signed a non-binding agreement to buy liquefied natural gas (LNG) from Anadarko Petroleum's Mozambique acreage, a deal that will help the US company reach a final decision on the project. Centrica and Tokyo Gas will buy 2.6-million tonnes of LNG per... 

Resource nationalism on the rise in sub-Saharan Africa

By: Nadine James     15th June 2018 The seemingly increasing trend towards nationalist thinking, combined with and likely driven by growing economic inequality, has resulted in several changes in mining and tax legislation in sub-Saharan Africa countries. Herbert Smith Freehills Africa Group co-chair and partner Peter Leon says the... 

As Gary Bell steps down as CEO, he urges SA manufacturers to embrace future

By: Irma Venter     15th June 2018 There is no need to cower in the corner when considering the future of manufacturing. Artificial intelligence and three-dimensional printing can open up a multitude of opportunities for South African manufacturers, says Bell Equipment CEO Gary Bell. Bell Equipment is, in fact, readying itself to... 

Uganda puts down deposit for six aircraft

By: John Muchira     15th June 2018 In a significant step towards reviving its defunct national carrier, Uganda has paid deposits for six aircraft – four Bombardier CRJ900 and two wide-body Airbus A330-200 jets. jretsThis comes after the East Africa nation made an initial cash deposit of $1,2-million for the purchase of six... 

As Gary Bell steps down as CEO, he urges SA manufacturers to embrace future

By: Irma Venter     15th June 2018 There is no need to cower in the corner when considering the future of manufacturing. Artificial intelligence and three-dimensional printing can open up a multitude of opportunities for South African manufacturers, says Bell Equipment CEO Gary Bell. Bell Equipment is, in fact, readying itself to... 

Atlas does not have priority rights to new Hedland berths

By: Esmarie Swanepoel     14th June 2018 The share price of iron-ore miner Atlas Iron dropped by nearly 16% on Thursday after the Western Australian government informed the company that it did not have “priority right” to develop new export berths. Atlas told shareholders that the North West Infrastructure (NWI), of which the company... 

Twinsaver opens Kliprivier plant, now largest tissue manufacturer in sub-Saharan Africa 

14th June 2018 Tissue manufacturer the Twinsaver Group last month opened a new manufacturing plant in Klipriver, on the border of the Midvaal and Ekurhuleni municipalities. Marleny Arnoldi tells us more. 

Mitsubishi pays $600m to up stake in Anglo American’s Peru copper project

By: Mariaan Webb     14th June 2018 Diversified miner Anglo American has agreed to sell another 21.9% equity interest in its Quellaveco copper project, Peru, to Mitsubishi, increasing the Japanese group’s interest in the project to 40%. Mitsubishi will pay $600-million for the additional interest in Quellaveco, implying a... 

SASSDA Member Champions Stainless Steel In Key Military Projects

14th June 2018 Manufacturer and exporter Desert Wolf which has recently reinstated its Sassda membership is currently playing an instrumental role in Project Teamster, the new SANDF project to upgrade the complete field kitchen facilities for the South African National Defence Force (SANDF) and is currently... 

Business trading conditions remain weak – index

By: Marleny Arnoldi     13th June 2018 Trade conditions for businesses remained weak in May, says the South African Chamber of Commerce and Industry (Sacci).  

Multi-Million Rand Turkish Investment In Western Cape Turns Scrap Metal Into Jobs, Profits

13th June 2018 Local scrap metal, previously shipped out of South Africa with virtually no local benefit, is now being transformed into tens of thousands of tons of valuable steel, boosting job creation in greater Cape Town and the national economy generally. The transformation of the sector came courtesy of a... 

Hancock Prospecting discloses nearly 20% stake in Atlas Iron

By: Reuters     13th June 2018 Australian billionaire Gina Rinehart's Hancock Prospecting group of companies disclosed on Wednesday a 19.96% stake in Atlas Iron, heating up the race for the small iron-ore miner. Hancock Prospecting Pty Ltd holds a 14.97% stake in Atlas, while Hancock's unit Redstone Corporation will have a... 

Atlas Copco applies for licencing of its medical gas solutions portfolio

12th June 2018 Atlas Copco has applied for licencing of its turnkey BeaconMedæs ISO 7396-1 accredited medical gas solutions portfolio to the South Africa Health Products Regulatory Authority (SAHPRA) in line with recent amendments to regulations relating to medical devices and in vitro diagnostics (IVDs). In... 

US embassy warns citizens to consider leaving district in north Mozambique

By: Reuters     12th June 2018 The US embassy in Mozambique said Americans should consider leaving a northeastern district close to a major gas field as imminent attacks are likely after suspected Islamist militants beheaded ten people and killed seven others since May. Any sign of militant activity is a concern for the... 

Winch Energy and iWayAfrica Partner to launch The Winch Hub® to Accelerate Energy and Internet Access into Rural Areas of Uganda

11th June 2018 Winch Energy is a global off-grid renewable energy operator and technology integrator, providing turnkey remote power and communication solutions for rural communities iWayAfrica is a leading African ISP, offering pan-regional connectivity solutions over satellite, fibre and wireless access networks 

Fourth Edition of Africa Code Week Kicks Off in Madagascar with a Goal to Empower 600,000 Youth in 2018

11th June 2018 With over 1.8 million lives impacted since 2015, Africa Code Week harnesses partnerships to build community capacity on digital education across an entire continent. The 2018 edition of Africa Code Week (ACW) officially kicked-off in Madagascar this week with its first-part series of... 

Botswana coal miner sees opportunity in regional shortages

By: Bloomberg     11th June 2018 Botswana’s sole operating coal mine will increase output almost threefold within seven years as it eyes export opportunities created by a shortage of the fuel that’s used to fire most of southern Africa’s power plants. Morupule Coal Mine in the east of the country will ramp up annual production... 

Cabinet approves designation of Atlantis SEZ

By: Creamer Media Reporter      8th June 2018 Cabinet has approved the decision by Trade and Industry Minister Dr Rob Davies to designate the Atlantis Special Economic Zone (SEZ), in Atlantis industrial area, outside Cape Town. The designation of the Atlantis SEZ follows that of the Saldanha Bay Industrial Development Zone and is intended to... 

Sikorsky Continues Customer Support Focus with New Parts Supply Site and S-92 Blade Repair Capability

8th June 2018 Sikorsky, a Lockheed Martin company, today announced the relocation and expansion of its Brazil-based forward stocking location (FSL) at a ribbon cutting ceremony attended by local operator CEOs and Sikorsky officials. The strategic decision positions Sikorsky products closer to operators and... 

DEA, Unido to host roadshow on HFC phase-out

By: Marleny Arnoldi     8th June 2018 The Department of Environmental Affairs (DEA) will collaborate with the United Nations Industrial Development Organisation (Unido) to host a roadshow with the aim of engaging stakeholders about the Hydrofluorocarbons Phase-Out Management Plan (HPMP) for South Africa.  

MinRes infrastructure project progresses

By: Esmarie Swanepoel     8th June 2018 ASX-listed Mineral Resources (MinRes) was expecting a State Agreement for its planned Pilbara infrastructure project before the end of the year. The company on Friday said that it was currently in negotiations with the Department of Jobs, Tourism, Science and Innovation on the terms of the State... 

Balance between mechanisation, job creation must be maintained

By: Jessica Oosthuizen     8th June 2018 Specialist equipment supplier Multotec believes that a balance between the mechanisation of manufacturing operations and job creation must be maintained, says COO Jannie de Jonge. He tells Engineering News that it is something Multotec believes and practices. 

How to offset the job killing effect of sugar tax

8th June 2018 FairPlay movement member Chris Ward argues that, by following the lead of sugar producing countries, such as Brazil, which is now a major bioethanol producer and exporter, South Africa will be able to not only save but also grow its sugar-cane industry 

The fourth industrial revolution, an African perspective

8th June 2018 New and emerging technologies are fundamentally changing the world in ways that were previously unimaginable. Technology driven innovation has always caused business models to go extinct. Some companies could not evolve and went out of business while others adapted, seized opportunities and... 

Barossa project to backfill Darwin liquefied natural gas plant, Australia

By: Sheila Barradas     8th June 2018 The project aims to provide gas for the Darwin plant after the Bayu-Undan reservoir ceases production post 2022. 

Resources, oil & gas sectors drive Australian GDP growth in Q1

By: Esmarie Swanepoel     7th June 2018 The resources and oil and gas sectors have continued to drive the Australian economy during the March quarter, with the Australian Bureau of Statistics (ABS) revealing that the sectors were the main drivers to a 1% increase in Australia’s gross domestic product (GDP) during the period. The... 

Seriti Resources interested in Optimum Coal as it looks to export

By: Reuters     6th June 2018 South African miner Seriti Resources wants to move into exporting coal and would be interested in buying the assets and quotas of the Gupta family's Optimum Coal, its CEO said. Bidding for Optimum Coal would pit Seriti, which has ambitions to become a black-owned mining champion, with bigger... 

Rwanda says mineral export earnings rose to $373m last year

By: Reuters     5th June 2018 Earnings from Rwanda's mineral exports more than doubled to $373-million last year from the previous 12 months, supported by a rebound in global prices of commodities, a top official said. After meeting sector players in the capital Kigali on Tuesday, Francis Gatare, chief executive at Rwanda... 

MCA urges reforms to encourage investment

By: Esmarie Swanepoel     5th June 2018 The Minerals Council of Australia (MCA) has warned that future investments and jobs in the Australian resources could be put at risk as reforms to streamline project approvals and modernizing workplace relations stalled. In its submission to the Parliament’s inquiry into impediments to business... 

60 year anniversary of global polymer company - 8 lessons for entrepreneurs

By: Creamer Media Reporter      4th June 2018 At 87 years old, serial entrepreneur Alain Leger, who founded one of South Africa’s most successful manufacturing enterprises, is a seasoned business person celebrating the 60th anniversary of the company he founded this year. While the art of taking on financial risks in the hope of achieving... 

Kenya launches pilot oil export scheme via Mombasa

By: Reuters     4th June 2018 Kenya has launched a pilot scheme to export crude oil via Mombasa as part of efforts to capitalise on the country's oil reserves. The East African country discovered commercial oil reserves in its Lokichar basin in 2012 and a 800 km (500 mile) pipeline is due to be built before production starts... 

Trump metal tariffs send corporate Canada reeling in disbelief

By: Bloomberg     2nd June 2018 To get a sense of the disbelief gripping Canadian manufacturers since the U.S. imposed metal import tariffs, have a chat with Marc Dutil. “I just want to scream,” the CEO of structural-steel maker Canam Group said Friday by phone. “All this is doing is creating uncertainty. It’s the last thing... 

Brazil says US tariffs and quotas unjust, still open to negotiate

By: Reuters     2nd June 2018 The Brazilian government said US quotas and tariffs that went into effect on Friday on Brazil's steel and aluminum exports to the United States were unjustified, but said it remains open to negotiate a solution that benefits industries in both countries. Under the new quota-based system agreed... 

New-vehicle market shows improvement in all segments in May

By: Irma Venter     1st June 2018 The South African new-vehicle market grew by 2.4% in May, to 42 984 units, compared with the same month last year. Sales numbers released on Friday showed that May new-passenger car sales gained 0.7%, to reach 26 561 units. 

Zimbabwe removes requirement for foreign mines to list locally

By: Reuters     1st June 2018 Zimbabwe's Parliament has passed amendments to the mining bill after removing clauses that required foreign mining companies to list locally, according to an official record of Parliament's debates seen on Friday. Mines Minister Winston Chitando had last month promised to remove the requirements,... 

Whitehaven aims for full Winchester South ownership

By: Esmarie Swanepoel     1st June 2018 Coal miner Whitehaven Coal on Friday said that it was hoping to take full ownership of the Winchester South coal project, in Queensland, before the end of June. Whitehaven has now completed the acquisition of mining major Rio Tinto’s 75% interest in the project for A$200-million, as part of... 

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