Tony van Niekerk in conversation with Gideon Bochedi, the newly appointed CEO of Credit Guarantee Insurance Corporation (CGIC)
In a market where economic uncertainty and risk complexity are becoming the norm, leadership agility and vision are more important than ever.
I recently had the opportunity to sit down with Gideon Bochedi, the newly appointed CEO of Credit Guarantee Insurance Corporation (CGIC), to discuss his priorities, strategy, and the future of credit insurance in South Africa.
Gideon brings a clear, practical philosophy to the role, one centred on realignment, simplicity, and access. With CGIC long regarded as a market leader in trade credit insurance, Bochedi is focused on sustaining that leadership while unlocking growth and broadening market understanding of this often-misunderstood product.
A Leader with a vision for alignment and growth – Bochedi’s priority is internal: to ensure that CGIC’s teams are aligned around a shared five-year vision and equipped to support it.
“We’ve been challenged with growth, and part of that is because we were not structurally geared for it,” he explained. “So, I’m focusing on realigning the business and energising the teams so that we can actively compete in the market again.”
This refocus includes fostering a stronger external orientation, getting out into the market, engaging with clients and brokers, and responding to the competitive landscape with agility.
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Making Credit Insurance accessible – One of Bochedi’s core ambitions is to simplify Credit iIsurance. As he puts it, “Credit Insurance is often seen as complex. We want to make it simple to understand, easy to use, and tailored to the needs of each market segment.”
This focus on simplicity is more than just product design, t’s about the end-user experience. Whether for a large corporate client or a small business, CGIC’s solutions must be understandable and valuable in practice.
“If a solution doesn’t solve a client’s problem, they won’t use it. And if it’s too complicated, they’ll drop it,” he said. “We need to ensure that credit insurance supports our clients’ growth, without adding layers of complexity.”
Taking Credit Insurance to the street – Perhaps Bochedi’s most compelling message is his goal to demystify credit insurance for the broader public. His pitch to the CGIC board centred on a bold vision: taking credit insurance to the street.
“We want the ordinary person to understand how credit insurance plays a role in their lives, even if they don’t use it directly,” he explained. “It facilitates commerce, enables businesses to trade confidently, and ultimately ensures that goods and services reach consumers.”
By raising awareness, Bochedi hopes to build appreciation for Credit Insurance as a foundational element of economic activity, a tool that supports liquidity, trade, and financial resilience.
Brokers as critical partners in expansion – Given the perceived complexity of credit insurance, brokers have traditionally played a key role in the CGIC distribution model. For brokers not yet offering credit solutions, Bochedi has a simple message: let’s collaborate.
“We want to work hand-in-hand with brokers to identify client needs and craft simple, effective solutions together,” he said. “Let’s move beyond transactional relationships and have real conversations about what’s happening in the market.”
He envisions regular forums between CGIC and broker partners to jointly address market challenges and develop responsive strategies. “I’m a collaborative person by nature,” he added. “Our brokers are key to helping clients navigate uncertainty.”
Skills, strategy, and tariffs – One of the biggest challenges CGIC, and the wider trade credit market, faces is skills development. According to Bochedi, without the right skills, both clients and insurers struggle to interpret market shifts or respond strategically.
“Skills help you articulate yourself, but they also help you understand market signals,” he said. “Take tariffs, for example. If new US trade tariffs come into play, we need people who can assess the knock-on effects for South African exporters and adapt our products accordingly.”
This capability gap is being addressed through internal training initiatives and partnerships with professional bodies like the Insurance Sector Education and Training Authority (INSETA). The goal is to ensure that CGIC’s people, and the wider industry, have the analytical and communication skills to deliver meaningful value to clients.
When asked what legacy he hopes to leave, Bochedi was quick to respond: a culture of continuous learning.
“I want every staff member to understand that in our sector, the landscape changes daily. We must keep learning, adapting, and growing.”
His second legacy goal? Ensuring that credit insurance becomes a commonly understood economic tool.
“When someone mentions ‘credit insurance’ in a university, at the DTI, or in a business forum, I want it to be instantly recognised as a critical enabler of trade and growth.”
By achieving both, internal learning and external awareness, Bochedi believes CGIC will not only sustain its market leadership but also transform how credit insurance is perceived and used across the economy.
As South Africa’s economy navigates ongoing challenges, credit insurance has a vital role to play in unlocking trade and reducing business risk. Under Gideon Bochedi’s leadership, CGIC appears poised to do more than defend its market position, it’s ready to redefine it.
With a focus on clarity, collaboration, and capacity building, Bochedi is charting a course that not only strengthens CGIC’s internal alignment but also opens the doors of credit insurance to broader markets and new users. And in doing so, he may just take credit insurance from the boardroom to the street.