Thanks to a new initiative that digitizes federal tender processes, small and medium businesses (SMBs) in South Africa can now gain access to state procurement opportunities more easily. In his recent budget speech, the Finance Minister Nhlanhla Musa Nene announced plans for an electronic tender portal operated by the National Treasury. He said officials want to have the portal up by next month.
According to reports, the country's SMBs will have a more affordable and open way to do business with state procurement officials through the platform. The new website will come with a new state mandate that requires all state departments to publish tenders worth over R500 000 ($40,000) starting 1st April. Those tender awards will be publicized on the website.
On the supply side, the minister said supplies will have to register on the website after being listed on the National Treasury's database. All tender documents will be offered for free to vendors, and all advertisements of federal procurement work in newspapers will be phased out. Suppliers will also be able to access and confirm their tax and Black Economic Empowerment status on the platform.
According to reports, the country's SMBs will have a more affordable and open way to do business with state procurement officials through the platform. The new website will come with a new state mandate that requires all state departments to publish tenders worth over R500 000 ($40,000) starting 1st April. Those tender awards will be publicized on the website.
On the supply side, the minister said supplies will have to register on the website after being listed on the National Treasury's database. All tender documents will be offered for free to vendors, and all advertisements of federal procurement work in newspapers will be phased out. Suppliers will also be able to access and confirm their tax and Black Economic Empowerment status on the platform.