NZEC Newsletter – December 2023

Kia ora koutou from the NZEC team,

Our final newsletter of 2023! We hope this finds you and your families safe as we head into the festive season. It has been another busy year at New Zealand Export Credit (NZEC), and we’re excited to give our final update of the year.

We are proud to have recently released our annual overview that showcases our performance over the last financial year. The full report can be found here, but for those in a rush – we’ve provided a snapshot of the highlights below.

In this newsletter we are excited to share with you our latest case study that highlights how a company delivering services into the UAE were able to secure a significant multiyear contract with the support of NZEC’s General Contract Bond Guarantee solution. We will dive into the detail about how we helped them secure the work below.

With the success of our streamlined approach for trade credit insurance, we have commenced work on a new initiative that is geared towards making our solutions easier and more accessible for SMEs. Watch this space as we will have an exciting announcement in the new year.

We hope you enjoy your read and your hard-earned time off over the new year!

Case Study – OnlyFromNZ

In our latest case study, we showcase how our General Contract Bond solution supported OnlyFromNZ to secure a significant multiyear contract delivering complex environmental, marine, eco-tourism and conservation services in the United Arab Emirates. OnlyFromNZ needed to provide performance and advance payment bonds to secure the contract, but doing so would consume a lot of their working capital required to fund the upfront costs of delivering the project. Managing Director at OnlyFromNZ Lesley Kennedy Said “NZEC has proven to be a committed partner for OFNZ, often giving our company the ability to bid for and win work that would have otherwise been financially challenging for us”. Read the full case study here to learn how NZEC collaborated with OnlyFromNZ’s bank to provide the bonds which enabled them to secure the contract.

New Zealand Export Credit Annual Overview 2022/23

We are pleased to deliver our latest annual report, in the last financial year the demand for our services continued at higher-than-average levels, as global economic uncertainties combined with longer supply and cashflow cycles tested the resilience and growth opportunities for many businesses. In response, NZEC achieved the following measures:

Diagram providing a summary of the annual overview

In support of the governments objective of delivering an export-led recovery we are proud to have:

Supported regional businesses,
Diversified the markets our exporters trade with,
Enabled innovative and productive SMEs
Continued ‘crowding in’ private sector support and,
Supported New Zealand’s transition to clean energy

NZIBA 2023 Awards Ceremony

In our previous update, we announced that we were sponsoring the ‘Best Emerging Business’ category of the 2023 New Zealand International Business Awards (NZIBA), hosted by New Zealand Trade and Enterprise (NZTE). This category was full of high calibre and inspiring businesses and the judges found choosing a winner particularly challenging for this category. The overall awards recognise exporters and their success in the fields of innovation, sustainability, online sales, brand storytelling, Māori excellence, women leaders, and investment. The ceremony to announce the winners was held recently in Auckland and we were thrilled to have Treasury Deputy Secretary Leilani Frew present the award to Greg Macpherson from SRW Laboratories on behalf of Export Credit. SRW are a very deserving winner, with their science-based approach to revolutionise the way people perceive and experience aging, they produce innovative supplements that work on the cellular level to promote healthy aging. Congratulations and thank you to New Zealand Trade and Enterprise for an amazing night.

MFAT Market reports

MFAT publishes regular reports on topics of interest to the New Zealand export community. The latest reports include:

Latest reports:

Team Update

In our last update we welcomed three new members to the NZEC team, since then Rob, Annie and Sarah have all settled into their positions within the team nicely. We have also recently recruited Eddie Bing as our Senior Underwriter. Eddie grows our Auckland cohort by one and brings over 20 years’ experience in the banking sector where he worked in credit roles with small to medium businesses. Nau mai haere mai Eddie.

Team Movements

There is no travel scheduled over the remainder of December and January. However, the team is always available for meetings in person, virtually using Skype, Zoom, Teams or over the phone. Contact details are on our website.

Christmas Holiday Update

Please note that NZEC will be closed over the Christmas period from 1pm 22nd December and will reopen on 3rd January 2024.

For any urgent enquiries during this period, please contact Rob Downie at [email protected]

NZEC LinkedIn profile

A reminder that NZEC has its own LinkedIn account, which can enable you to keep up to date on our latest case studies, news and regional visits.

Our link is: https://www.linkedin.com/company/new-zealand-export-credit/

Meri Kirihimete,

Peter, Feliza, Rob, Phil, Michael, Renee, Shalene, Eddie, Joana, Annie, Sarah and Caiden.