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ECIC announces “Cape Town Discount”
The Export Credit Insurance Corporation of South Africa (ECIC) has today announced that when the Luxembourg Rail Protocol in force in the state of the debtor/lessee, ECIC will apply a discount of up to 20% to its risk premium when it underwrites rolling stock financings, subject to ECIC minimum local South African content rules, compliance with the Protocol and other underwriting conditions. A detailed policy guideline will be published by ECIC in the coming days.
Speaking ahead of the Southern African Railways Association (SARA) Rail Conference and Exhibition, ECIC Acting Chief Executive Officer, Ntshengedzeni Gilbert Maphula said: “The Luxembourg Rail Protocol is a game-changer for Africa’s rail industry. By aligning financing structures with global best practice, it not only strengthens investor confidence but also positions South African exporters to play a leading role in supplying the continent’s rail revolution. The ECIC is committed to supporting exporters in seizing these opportunities through innovative export credit solutions.”
