Export Credit Insurance Corporation of South Africa Soc Ltd (ECIC) ’s Post

This morning’s ECIC, Industrial Development Corporation (IDC) and Johannesburg Chamber of Commerce and Industry (JCCI) panel on “Support mechanisms available for South African companies doing business in other African countries” yielded important insights into the IDC and ECIC’s Export Passport Facility of R1.5 billion (US$80 million) which is currently being piloted. The facility aims to stimulate export trade out of South Africa into the rest of the continent under the African Continental Free Trade Area (AfCFTA). ECIC will provide political risk and commercial risk cover through the facility, and it will, amongst other things, cater for Black Industrialists and Small Medium and Micro Enterprises (SMMEs) that are involved in export trade transactions, including new entrants. ECIC’s Head: Deal Origination, Portia Dube, also provided an overview of ECIC’s principles and its expanded mandate, which now includes short term cover. She also spoke to the benefits for lending institutions and exporters when ECIC is involved in export transactions. Portia highlighted that when ECIC provides cover on a cross-border transaction, the corporation remains in the transaction for the duration of the facility. She noted that the starting point of ECIC’s involvement is South African content. For projects in Africa, a minimum of 50% local content and at least 20% from the host country. She reiterated that the ECIC is open for business and eager to support export transactions under the AfCFTA. #ecic #afcfta #afcftatrading #creditinsurance #southafricanbusiness #africanbusiness

🚀 Big News for Aussie Exporters: Austrade's new criteria announced!🌐 The EMDG program is undergoing a transformation for 2024-25 with Austrade sharpening its focus aimed at providing better value for money to the Australian economy. To be eligible, businesses must: ✅ Min $100K turnover ✅ Invest $20K in exports ✅ 2+ years operational Applications for the program are set to open in late 2024 or early 2025 and will be on a "first in, first served" basis. Stay tuned for further updates. #EMDG #exportopportunities #businessgrowth Read more about the new eligibility criteria by clicking the article below.

Good news for Nigerian exporters! The Nigerian Ports Authority (NPA) has been recognized for its commitment to improving the ease of doing business! Here's what you need to know: NPA achieved a perfect score in the PEBEC (Presidential Enabling Business Environment Council) program. They implemented double the number of reforms compared to other agencies. This includes a significant reduction in export processing time - from 10 days to 3-5 days! Other benefits of the reforms: Increased transparency ✅ Reduced costs for businesses Streamlined processes for a smoother experience A big shoutout to the NPA and the Ministry of Marine & Blue Economy for making Nigerian ports more efficient! #Nigeria #Export #PEBEC #NPA #Business #Logistics #Trade #MadeInNigeria

🌎 Major Updates to Australia's EMDG Program ✈️ The Australian Government has announced updates to the Export Market Development Grants (EMDG) program. These changes aim to provide larger grants and improved financial support mechanisms for businesses engaging in international markets. The EMDG program changes are intended to come into effect for the next grant round slated for late 2024 or early 2025. For more information visit https://lnkd.in/gnbC-xkT Like to know more? Contact us today at elev8us.com.au #grants #export #business #emdg #business #australia

Businesses thrive and contribute more to #economicgrowth in predictable environments. Clear and transparent #traderegulations are essential for creating this predictability, allowing businesses to operate, and plan strategically and for ease of compliance. This, in turn, facilitates the sustainable implementation of the #AfCFTA and other trade agreements. At ESAMI-Trade Policy Training Centre in Africa (ESAMI-trapca) we support capacity building for the creation of an inclusive, transparent, and clear trade regulatory framework: email us at info@trapca.org ESAMI #ESAMITrapca #InternationalTrade #GlobalTrade #TradeFacilitation #TradePolicy #TradeLaw #EconomicDevelopment #CapacityBuilding #CapacityDevelopment #Sustainability #Trade #Transparency #Africa

Austrade has released the revised guidelines and processes for the Export Market Development Grant (EMDG Round 4) that applies for the 2025-26 and 2026-27 years.   There have been a number of changes over the previous program including ·        Applicants must have been in business for 2 years and have at least $100,000 in revenue ·        Minimum grant is $20,000, so your business must be able to spend at least $40,000 in eligible expenditure on eligible products (and they will ask for proof of funding). If you don’t spend $40,000 you get no grant money. ·        There is a cap in the number of applications and applications are assessed on a first come first served basis. It will pay to get your application in early (note applications for business open 12 November 2024) ·        Grant amounts are no longer scaled depending on how many applicants ·        Tier 3 applicants can only spend money promoting products in 27 countries.   If you want to learn more about the EMDG Round 4 and how to apply read my blog If you are a NSW business, I may be able to help you complete your EMDG application for free, simply email (wayne@arealcfo.com.au) or call me (0412 227 052).

Did you know? 🤔 SABS South African Bureau of Standards (#SABS) hosts the World Trade Organization's (#WTO) Technical Barriers to Trade (#TBT) Enquiry Point for South Africa! 🌍 This essential service provides access to information on technical regulations, standards, and conformity assessments that may impact international trade. It plays a key role in helping businesses navigate global trade regulations, ensuring compliance and promoting trade opportunities. 💼📊 For more information, please contact Ms. Nonhlanhla Mvelase Mpodi Manaka MBA, MDP (B-BBEE) Thembekile Thembi MLANGENI the dti (Department of Trade and Industry: Republic of South Africa) ISO - International Organization for Standardization African Organisation for Standardisation - ARSO Proudly South African National Metrology Institute of South Africa (NMISA) National Regulator for Compulsory Specification Export Credit Insurance Corporation of South Africa Soc Ltd (ECIC) #TradeFacilitation #GlobalTrade #WTO #TBT #SABS #TradeCompliance #Standards #InternationalBusiness #southafrica

Office of the United States Trade Representative “Based on the results of the annual African Growth and Opportunity Act (AGOA) eligibility review, which included a public hearing in July that was chaired by the Office of the United States Trade Representative, President Biden has determined to maintain AGOA benefits for each country currently eligible under the program. Therefore, the list of eligible and ineligible countries will remain unchanged for 2025.” #AGOA #Ethiopia #FDI

Watch the highlights of our workshop with Development Gateway: An IREX Venture on TCDI 2.0. (https://lnkd.in/djN2KxrG) Development Gateway: An IREX Venture (DG) has partnered with Centre for the Study of the Economies of Africa (CSEA) for the second phase of the Tobacco Control Data Initiative (TCDI). TCDI 2.0 aims to advance the work achieved in TCDI 1.0, which focused on improving tobacco control policies by providing governments, civil society, and academia of six African countries with country-specific data. The purpose of this workshop was for both teams to streamline their understanding and expectations of the program as well as provide some capacity building on the processes used in the first phase of the program, which will also be used on TCDI 2.0. Watch: https://lnkd.in/djN2KxrG #csea #tcdi #tobacco

Do you have qualified country-by-country report to avail of the transitional CbCR safe harbour (TCSH)? Is this (see extract from OECD Guidance) the manner in which you have accounted for partnerships in your CbCR? Do you know that stateless constituent entities (CEs) are excluded from the TCSH? Do you know that flow-through entities (with exceptions) are stateless entities? Do you have CEs that are characterised as Investment Entities which have special treatment under TCSH? #pillar2 #TCSH #transitionalsafeharbour #partnerships #CbCR