For additional questions or information, please contact Ex-Im Bank Business Development Staff Mr. Rick Angiuoni Regional Director for Africa E-Mail: rick.angiuoni@exim.gov   Mr. Benjamin S. Todd Business Development Officer for Africa E-Mail: ben.todd@exim.gov  Commercial Service Office http://www.buyusa.gov U.S. Embassy in the Country   http://pretoria.usembassy.gov Country Embassy in U.S.      http://www.saembassy.org

Export-Import Bank Support for U.S. Exports to South Africa

“In recent years South Africa has begun to benefit from the economic reforms enacted throughout the last decade. Recovering from the 2009 recession, we expect to see modest growth this year and new investments. With the success of the World Cup, which re-introduced the world to a vibrant and market friendly South Africa, we see much potential in many sectors.” – Fred Hochberg, Chairman, Export-Import Bank of the U.S.

South Africa's modern, well-diversified economy is the largest in Africa. The country continues to be an attractive place to do business because of its strong institutions, developed infrastructure, political and economic stability, stable banking sector, rich natural resources, and role as a financial and business center. It has a large domestic market and is well-positioned technologically to be able to compete in the global marketplace.

Success Stories

1. Hartswater, Northern Cape: The Export-Import Bank of the United States approved a request from Delta Technology Corporation of Houston, Texas, to support the sale of two electronic color peanut sorters to P-Farms Agente BK of Hartswater, South Africa in the amount of $151,063. With the use of Ex-Im Bank's single sale, multiple shipment insurance policy, the exporter, Delta Technology Corp., was able to directly finance this transaction over a two year period.
    
2. Pretoria, Gauteng: Legacy Medical of Pretoria was able to purchase $50,000 of nonvascular stents from Alveolus Inc., a small business located in Charlotte, North Carolina. Alveolus used a multi-buyer, small business insurance policy from the Export-Import Bank of the United States to support this sale.
    
3. Johannesburg, Gauteng: The Export-Import Bank of the United States provided $186 million in long-term loan guarantees to finance the acquisition by South African Airways of two B747-400 commercial aircraft from The Boeing Co., Seattle, WA. The aircraft each have four installed engines manufactured by General Electric Co., Cincinnati, OH. The airline is using the new B747-400s to expand the capacity of its B747 fleet which serves inter-continental routes, and initially planned to operate the two planes exclusively on its Johannesburg to London route.
    
4. Naboomspruit, Limpopo: JH Steenkamp, a sunflower grower based in Limpopo Province, purchased a $300,000 John Deere Model 4730 self propelled sprayer from Deere & Company, Moline, Illinois. A medium term loan guarantee from Ex-Im Bank was utilized to help the buyer obtain financing at a competitive rate.
    
5. Glen Anil, Kwazulu-Natal: Cast Industries, Springfield, Illinois, sold $45,000 of fishing lures to Goya Trading of Kwazulu-Natal Province. The transaction was facilitated by a short term insurance policy purchased from Ex-Im Bank, which protects Cast Industries from non-payment risks.