How CGIC is helping businesses navigate risk and protect growth.
In a market shaped by uncertainty, confidence has become a business asset in its own right. For companies that trade on credit, the risk of non-payment can place serious pressure on cash flow, limit growth and weaken resilience. It is in this environment that Credit Guarantee Insurance Corporation, better known as CGIC, has built its long-standing relevance in the South African economy.
Established in 1956, CGIC provides trade credit insurance that protects businesses when customers are unable to pay. Its purpose, says CEO Gideon Bochedi, is “to enable businesses to trade with confidence by protecting them against the risk of non-payment”. By covering that risk, the company helps clients extend credit more securely, unlock financing and pursue growth opportunities both locally and internationally. It also provides risk insight and guidance, helping businesses make informed decisions in an economic environment that is constantly shifting.
That is what gives CGIC its strategic value. As Bochedi explains, the business does more than insure transactions. “Ultimately, our core function is to reduce risk, protect cash flow and support sustainable business growth.” In practical terms, that support can be decisive. When customers fail, or go into liquidation, businesses need more than reassurance. They need a partner that can absorb the shock and help preserve continuity.
Part of what sets CGIC apart is the combination of local expertise and international backing. The business pairs deep South African experience in risk management with the strength of the Old Mutual Group and the global reach of Atradius N.V., one of the world’s largest credit insurers. That combination gives CGIC both solid capital backing and the ability to tailor solutions to the realities of each client’s business.
Its track record reinforces that positioning. For seven decades, CGIC has supported clients through changing economic cycles, from periods of expansion to moments of severe strain. It has honoured claims during some of South Africa’s most difficult corporate failures, including Edcon, helping to cement its reputation as a dependable risk partner when it matters most. Beyond the individual client, that support has a wider effect. By helping trade continue through uncertain periods, CGIC contributes to cash flow stability, job preservation and broader economic resilience.
Looking ahead, Bochedi’s ambitions extend beyond growth alone. He wants credit insurance to become more accessible and better understood, not only by businesses that use it directly, but more broadly across the market. “I want an ordinary person to understand how credit insurance plays a role in their lives even if they are not using it,” he says, pointing to the way it helps businesses trade boldly and keeps goods and services flowing through the economy.
He also wants CGIC to remain a dependable partner that creates value for clients, employees and regulators, while fostering a culture grounded in excellence, integrity and strong behavioural practices. That vision speaks to the company’s broader role in the market. In uncertain times, confidence cannot be assumed. It has to be built, protected and sustained. For seven decades, CGIC has made that its business.