Yesterdayโs ECIC Export Engagement Session for the members of the Aerospace, Maritime and Defence Association (AMD) in partnership with the South African Aerospace, Maritime and Defence Export Council (SAAMDEC) provided a unique opportunity for engagement on how the significant challenges facing the sector can be addressed in order to unlock export opportunities across the Continent and beyond. Fiscal constraints, lack of export diversification, bottlenecks and limited capacity, are some of the obstacles currently facing the sector. The workshop outlined amongst other interventions, how the Department of Trade, Industry and Competitionโs (the dtic) Aerospace Masterplan Policy is designed to target some of these shortfalls. ECAs like the ECIC are central to the expansion of exports, partnering with banks to provide guarantees, insurance, and structured financing solutions that enable complex defence transactions.
The event highlighted how pursuing blended finance mechanisms and engaging other funding sources, including ECAs and development finance institutions, will help to systematically address funding gaps and strengthen sectoral resilience with the ultimate goal of establishing South Africaโs defence industry as Africaโs one stop hub for solutions and the continentโs trusted partner of choice.
Pictured here is ECIC Business Development Specialist, Katlego Kgapane.