Credit Guarantee is the leading insurer of company debtors in South Africa and for that matter, on the African continent. For more than 50 years now, Credit Guarantee has been a mainstay of the South African business community and is an ‘Accredited Financial Services Provider’ (# 17691). The company is majority owned by Mutual & Federal and ultimately, by the Old Mutual Group. However, being the biggest credit insurance company in Africa, does not mean that we take our position for granted; through our industry specialist ‘business units’, every client is regarded as a ‘Key client’. You have the benefit of dealing directly with ‘subject matter’ experts from the underwriters and claims assessors to management who are immediately available when you need us. Our independently measured client satisfaction rating, conducted annually through Kauffman Levin Associates, has returned results above 90% for the last four years running, undeniably the highest in the industry – service levels unparalleled; just ask our competition! Credit Guarantee is AA+ (Double A plus) rated by Global Credit Rating Company and is ISO 9001:2000 accredited by the SABS across the entire company.
We are internationally affiliated and can accommodate any South African exporters’ needs anywhere across the globe. We pride ourselves on our ability to offer clients a range of products and product options from ‘ground up’ cover to ‘catastrophe’ cover and everything in between. Any policy can be tailored to fit individual client needs; no two clients are exactly the same – that is the uniqueness of flexible product design!

Description of products/services
‘Credit insurance’ – not to be confused with retail oriented ‘credit life’ products – is better described as ‘debtor’s’ insurance. It is an insurance product, indeed a policy, covering our clients against the failure of one or more of their customers to pay for goods sold and delivered or services rendered, due to their inability, unwillingness or liquidation. The policy requires our clients to apply for ‘credit limits’ on each of their insured debtors, negating the need to obtain credit bureau reports and other credit related information of their own.
Credit Guarantee boasts the single biggest confidential repository of ‘credit based’ company information and balance sheets in Africa. All costs associated with the policy are known upfront and are fully transparent, enabling our clients to manage them appropriately. Premiums are calculated monthly (in arrears) on insured balances outstanding, insured turnover or on a fixed cost basis, allowing our clients complete flexibility. Should any insured debtor(s) renege on payment, Credit Guarantee indemnifies our client and sets out to recover the loss from the debtor. Recoveries are shared with our clients on a pro-rata basis according to respective interests.

Target markets
All companies selling on credit terms to other companies situated both locally as well as on foreign shores, including those within the ‘Common Monetary Area’.

Key facts and figures
Year established: 1956
No of staff: 270
Major clients: Many major corporates and companies ranging from SMME to JSE listed
Gross premium income: 31 December 2008 – R562,2 million

BBBEE status
Credit Guarantee, as a financial services company, is subject to the Financial Services Charter (FSC) and accordingly our BEE targets are set and our status measured according to the provisions of this charter.  We received an “A” rating from the Financial Sector Charter Council in August 2008, entitling a BEE spend recognition of 125c in the Rand.

Credit Guarantee
• Is an unlisted, public, company;
• Has black ownership of 17.4% with no black women ownership;
• Annual turnover exceeds R 35 million;
• Qualifies as a value adding supplier (Net profit before tax plus annual salaries exceeds 25% of annual turnover

Full details of Credit Guarantee’s BBBEE status can be obtained from the Company

Contact details
Key contact people:
• Mike Truter, Managing Director & CEO
• Wilhelm Lategan, Financial Director & Co. Sec
• Roger Munitich, General Manager - Marketing and R&D
Physical address: Credit Guarantee House, 31 Dover Street, Randburg
Postal address: PO Box 125, Randburg 2125
Tel: (+27 11) 889 7000
Fax: (+27 11) 886 1027
Email: # This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Website: www.creditguarantee.co.za
Branch offices are located in Cape Town; Port Elizabeth and Durban

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