Coface Celebrates 20 Years Of Empowering South African Businesses

Since launching in 2005, Coface has grown from a shareholder in CUAL to a fully established operation, bringing global expertise in trade credit insurance to the local market.

Over the past two decades, Coface has played a pivotal role in helping South African companies manage risk, access reliable business information, and recover local and international outstanding debts. These services have become essential tools for businesses seeking to grow with confidence in an increasingly volatile global economy.

A timeline of progress and purpose

Coface’s South African journey began with the acquisition of Credit Underwriting Agency Limited (CUAL), introducing product lines like Global Protector and Standard Protector. As early as 2008, during the global financial crisis, Coface stood by its clients, offering robust credit insurance solutions and risk assessment tools in a high-claims environment.

In 2012, Coface expanded its local services with the launch of Coface Global Solutions and TradeLiner, tailored for mid-market companies. This was followed by the introduction of EasyLiner in 2014, further enhancing accessibility to credit insurance for SMEs.

By 2015, Coface South Africa had earned recognition for its risk expertise, particularly in helping clients navigate uncertain markets. The company also began offering uninsured debt collection services, a move that would later evolve into a strategic partnership with AK Collect in 2017, bringing in-house third-party debt recovery capabilities.

That same year, Coface launched Business Information Services, equipping clients with advanced tools to assess customer creditworthiness and market risks. This marked a significant shift toward data-driven decision-making, a trend that continued with the 2019 rollout of digital platforms like CofaNet Essentials and Broker Portal.

Coface’s commitment to transformation and inclusion was recognized in 2019 when it won four prestigious Gender Mainstreaming Awards, including Overall Gender Mainstreaming Champion and Women Empowerment in the Workplace. These accolades reflect the company’s leadership in promoting gender equity and inclusive growth.

During the COVID-19 pandemic in 2020, Coface provided critical support to clients through flexible risk management strategies and real-time data insights. In 2021, the company achieved Level 2 BBB-EE Contributor status, reinforcing its dedication to South Africa’s economic transformation.

Recent innovations include the 2023 launch of the iCON platform (Business Information) and Coface API solutions, followed by the 2024 introduction of Urba 360, a powerful tool offering access to exclusive commercial risk data worldwide. These platforms underscore Coface’s commitment to digital transformation and client empowerment.

A strategic hub in a global network

With a presence in over 100 countries, Coface’s international footprint enables it to offer clients unparalleled access to global trade intelligence. South Africa plays a strategic role in this network, not only as a gateway to the African continent but also as a dynamic market with immense growth potential.

Looking ahead with confidence

As Coface celebrates this 20-year milestone, CEO Abdul Vally reflects on the journey and the road ahead:

“Twenty years in South Africa is more than a milestone, it’s a testament to our resilience, relevance, and the relationships we’ve built. Coface is deeply rooted in the trade credit insurance market, and we’re expanding with purpose into business information and third-party debt collections. We’re not just part of the industry; we’re shaping its future. Our commitment is clear: we’re here to stay, and we’re building the way forward with confidence, integrity, and ambition.”

With two decades of experience, a strong local presence, and the backing of a global network, Coface remains a trusted partner for South African businesses, today and into the future.

For more information: Visit www.coface.co.za.