Understanding Credit Guarantee Insurance in South Africa

What does the health of South Africa’s business sector look like from inside one of the country’s most experienced trade credit insurers? In this COVER interview, Kgolagano Leola, Head of Collections at Credit Guarantee Insurance Corporation (CGIC), sits down with Tony to unpack the economic pressures facing local businesses, especially the SMEs that form the backbone of our economy.

With responsibility for soft and legal collections, business rescue, liquidation matters and insolvency regimes, Kgolagano has a unique vantage point. She explains how many small and medium enterprises are facing severe cash-flow strain, stretching repayment arrangements from six months to as long as 12–18 months. Yet, despite the pressure, she describes a level of resilience and determination that continues to define South African entrepreneurs.

This episode goes beyond technical detail, shedding light on:

• why credit insurance exists and how it keeps businesses trading,
• the vital role of brokers in helping clients manage financial risk,
• the breadth of skills needed in the credit insurance ecosystem, and
• how Credit Guarantee supports clients through training, forums, product education and industry insights.

We also step behind the professional title and meet Kgolagano as a person: an academically driven professional whose love of learning—shaped by choosing books from her father’s Reader’s Digest subscriptions, built the foundation for her career. From joining CGIC in a graduate programme to managing divisions across collections, legal recoveries and security documentation, her 12-year journey is a testament to growth, purpose and passion.

Looking ahead, she speaks about innovation, African expansion, and her own aspirations for leadership in the sector—a future she sums up in one powerful line: “The future holds greatness.”

This is an inspiring, informative conversation for anyone working in business, risk, insurance, lending, or economic development.