The Berne Union (BU) announced that ECIC COO, Mandisi Nkuhlu, has been elected as Vice President of the Berne Union.
ECIC CEO, Kutoane Kutoane, congratulated Mandisi for his commitment to the transformation of the BU and for playing an advocacy role on behalf of the members.
The Berne Union is the association for the global export credit and investment insurance industry. It represents 82 member companies from 73 countries worldwide, including official export credit agencies, and private insurers.
The association was founded in 1934 by private and state export credit insurers and their aims have remained consistent since its inception, to actively facilitate cross-border trade by supporting international acceptance of sound principles in export credits and foreign investment and to provide a forum for professional exchanges amongst members. In 2015, Berne Union members provided USD 1.84 trillion insurance for trade and investment – 11% of total worldwide trade, according to WTO statistics.
At this year’s BU AGM held in Lisbon, Portugal, Minister of Economy of the Portuguese Government, Manuel Caldeira Cabral, opened proceedings for the plenary with a presentation underlining the importance of export credit agencies to an economy such as Portugal’s, in supporting and sustaining global trade amidst difficult economic conditions. A record 270 participants, representing 68 of the
Berne Union’s members had joined together to discuss business trends, macro themes and changing industry dynamics. Topi Vesteri (Deputy CEO of Finnvera) was re-elected to serve as President, being joined by Mandisi Nkuhlu (COO of ECIC SA) as Vice-President, with both serving for a term of two years. Mandisi Nkuhlu is the very first African to be elected into the Presidency of the Berne Union. As South Africa pursues an expanded and diversified export basket, the role of the Export Credit Insurance Corporation SOC LTD (ECIC) is critical in helping exporters to access new markets and to consolidate their position in established markets. The ECIC was established in 2001 under the Export Credit and
Foreign Investments Insurance Act, 1957 (as amended). ECIC provides insurance that enables South African exporters to offer their services and products on the international market. It has a particular focus on emerging markets in Africa that are considered too risky for conventional insurers. Its overarching goal – and its mandate from the South African government as its sole shareholder – is to make South African exporters attractive to international buyers to attract foreign income, stimulate domestic economic growth and create local jobs.
The Corporation is a registered financial service provider and regulated by the Financial Services Board (FSB). The ECIC’s vision is to remain committed to sustainable business growth through innovative products, operational excellence, business development and strategic partnerships.