South Africa unveils Cuba export credit package

(Times Live, Havana, 7 December 2010) President Jacob Zuma, on a state visit to Cuba, said a R210-million (US$31.6 million) credit line package had been finalised in an effort to uplift economic ties with the country. In his address to the SA-Cuba business forum in Havana, Zuma said the extension of credit guarantees from the government's Export Credit Insurance Corporation to Cuba, to the value of R70-million, was one aspect of the package and will insure South African suppliers for exports to Cuba. South African exports to Cuba have fallen from R82-million in 2008 to only R1-million in 2010.