Credeq launches, unlocking the credit Africa needs

Credeq Africa today announced its official launch as an independent Underwriting Management Agency (UMA) in the local market, marking a strategic evolution from its roots within Lombard Insurance’s Guarantee and Trade Credit division.

This milestone positions the company to deliver faster, more flexible specialist guarantees and credit insurance to the construction, mining, trade, and other bespoke risk sectors.

Led by Managing Director Helgaard Müller, Credeq Africa is more than a structural shift - it is the local cornerstone of a global group of  Underwriting Specialists operating under the Credeq brand in the UK, Europe, Australia, and beyond. Donny Gouveia, Credeq Global CEO, explains: “We are creating a business designed for today’s needs – globally connected, locally empowered, and built on deep expertise and agility.”

According to Müller, the move to an independent UMA allows the company to do more than streamline operations, it unlocks credit innovation. “This structure gives us the freedom to develop new products for a rapidly changing economy - from mining prepayment guarantees to complex cross-border logistics solutions. We are able to act faster, collaborate better, and tailor more precisely to the risks our clients are facing.”

Credeq Africa enjoys the best of both worlds, drawing on the legacy of Lombard’s respected guarantee operations while operating independently under its own UMA structure. Established in South Africa in 1990, Lombard continues as the license holder - bringing continuity, regulatory strength, and reputational trust, with all underwriting and administration now handled by Credeq Africa.

“This continuity matters. Our clients value long-term partnerships, not transactional wins,” said Müller. “That’s why many of the faces they know [from Lombard] have become part of the Credeq service experience. It’s a change in name and structure - not in values.”

Credeq launches with four specialist divisions: Construction Guarantees, Mining Guarantees, Trade Guarantees (including fuel and logistics), and Trade Credit solutions.

With one of the largest teams of specialists in the South African market, Credeq can deliver tailored solutions faster. “Our team of nearly 100 specialists dwarfs the competition. It’s about speed, expertise, and understanding the unique challenges of each sector. That allows our people to truly understand their industries, not just the financials, but the risks on the ground. It’s what enables us to move fast and stay accurate,” he adds.

For brokers, the launch signals a deeper partnership model. “We are deliberately doubling down on broker relationships. Our job is to support them, not compete with them.”

A huge advantage of the Credeq Group structure is the global reach. South African teams now have access to global markets, tools, and underwriting capacity. “If a local mining client expands into Australia or Europe, we don’t need to hand them over to another provider, we can walk with them. That’s powerful,” says Müller. “And it works in reverse too - our teams can underwrite international risks from here in South Africa.”

Credeq Africa’s reinsurance relationships provide capacity that few local players can match, with the ability to issue multi-billion-rand guarantees. However, its claims’ philosophy is hands-on and collaborative. “Paying claims is expected. Helping clients avoid them is where we really add value,” Müller said. “We’ve made direct interventions, that is, loans, restructures, and contractor mediation - when it meant salvaging a project and avoiding unnecessary fallout.”

He concludes that the UMA model gives Credeq Africa more freedom to innovate and act entrepreneurially without losing the governance and trust that comes with Lombard’s backing. “We have always said we want to do good business with good people. This model lets us scale that idea with integrity. We don’t chase volume, we pursue quality. Our promise is simple: Help clients grow, make brokers stronger, and deliver certainty when it matters most.”

Credeq Africa launches out of Lombard Insurance Company

Lombard Insurance (Lombard) has restructured their operations to split out the majority of their Guarantee and Trade Credit divisions from the insurance licence to establish an independent UMA - Credeq Africa - specialising in guarantee and trade credit insurance solutions. 

Global connectivity

Credeq Africa is part of the newly formed Credeq Group - a global network of guarantee, credit insurance, specialist financial risk and fintech businesses across Africa, Europe, the UK, and Australia. Whilst unified under a global brand, each regional entity maintains operational independence.  

Credeq Africa will be led by Helgaard Müller, the former executive head of Lombard Guarantee, ensuring leadership and strategic continuity. 

Strong local roots

Antoinette Shand, Managing Director of Lombard, states, "This operational change strengthens our primary focus at Lombard: adopting a partnership-centered approach to build meaningful, long-term collaborations for delivering specialised insurance solutions to the market."

Specialist risk requires specialised expertise

Credeq Africa will partner with Lombard, as an insurer, in South Africa.  So whilst Lombard continues to provide financial certainty and capacity for their UMAs and ultimately clients, Credeq Africa - now operating as a specialist risk UMA Partner of Lombard - will be the same expert underwriting team that has developed and delivered guarantees and trade credit insurance solutions in sub-Sahara Africa for the last 35 years. 

Credeq Africa complements Lombard’s well-established and diverse portfolio of UMA partners - bringing their portfolio of specialist insurance partnerships to 12. 

Directly speaking

To ensure continuity for direct clients, Lombard will have a Guarantee division for the ongoing engagement with and the development of all direct business under Lombard. The Credeq team - who’ve historically worked with these clients in Lombard Guarantee - will be responsible for the risk assessment and underwriting of this direct business and will work closely with Lombard to maintain our service consistency. 

Helgaard Müller reaffirms that, “While the business structure has evolved, the people and principles remain unchanged. Credeq Africa builds on our legacy with the same expert team and service focus, now backed by a global brand that gives us greater reach, agility and opportunity across Africa and beyond.”