Japanese export credit agency deal enhances SA’s cross-border transaction capability

THE state-owned Export Credit Insurance Corporation of South Africa (ECIC) has concluded a landmark reinsurance agreement with Nippon Export and Investment Insurance (NEXI), Japan’s official export credit agency. The agreement was celebrated at a high-profile ceremony held during the 9th Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan with  the country’s prime minister, Shigeru Ishiba and the South African trade and industry minister Parks Tau among the dignitaries.

The agreement is the first reinsurance partnership between NEXI and an African export credit agency. It provides a strategic framework under which NEXI will reinsure ECIC’s export credit insurance, enabling Japanese companies operating in South Africa to expand exports into third markets, including within the African continent.

Speaking on the panel discussion , at the NEXI-TICAD9 event, the acting CEO of ECIC, Ntshengedzeni Gilbert Maphula said: “This agreement demonstrates South Africa’s growing role as a trade and investment hub for the African continent. By joining forces with NEXI, we are not only strengthening bilateral economic cooperation with Japan but also creating new opportunities for intra-African trade in support of the African Continental Free Trade Area (AfCFTA). This partnership enhances ECIC’s capacity to underwrite complex cross-border transactions while reinforcing investor confidence in South Africa as a gateway into Africa.”

South Africa hosts the largest presence of Japanese companies on the continent, and this agreement will further anchor the country’s position as a launchpad for trade and investment into Africa. By combining ECIC’s regional expertise with NEXI’s global capacity, the agreement positions both institutions to support sustainable growth, industrialisation and export-led development across Africa.

The ECIC says it remains committed to leveraging strategic partnerships to advance South Africa’s trade agenda, strengthen global cooperation, and unlock new opportunities for businesses and exporters.

The Export Credit Insurance Corporation of South Africa SOC Ltd is a state-owned entity mandated to facilitate and support South African cross-border investments and exports by underwriting political and commercial risks.

Nippon Export and Investment Insurance (NEXI) is a business insurer which covers risks arising in foreign transactions, and which are not covered by commercial insurance. The government established the trade and investment insurance program in 1950 as part of its export promotion policy.  In 2001, Nippon Export and Investment Insurance (NEXI), an incorporated administrative agency, was created as a 100% state-owned agency to efficiently manage this program in unity with the Government.