MABUZA MASINA WINS PSPF ASSETS TENDER

MBABANE – Mabuza Masina Consultants has won a tender worth E87 000 for the evaluation of investment property assets for the Public Service Pension Fund (PSPF).

This happened after the company emerged as the best evaluated tenderer after scoring 86 per cent in the evaluation exercise undertaken in accordance with the Public Procurement Act of 2011.

The consultants, which were competing against two consultancy firms, had priced their bid at E87 000 inclusive of taxes. Mabuza Masina was in the contest with Christian Amoako & Co. Pty Ltd which was the second best contenders with a total evaluation score of 62 per cent and bid amounting to E345 513.50.
Nsibande Property Practice (Pty) Ltd whose bid had been priced at E88 000 scored the lowest evaluation score of 57 per cent according to documents seen by the Business Desk which were issued by the Eswatini Public Procurement Regulatory Authority (ESPPRA).

It had earlier been announced that a period of 10 working days would be allowed for the submission of any application for review.       
Recently, the fund presented a business opportunity for the evaluation of the eye-catching Sibekelo House.
  It was emphasised that the fund would not bind itself to accept the lowest or any tender.

“The fund reserves the right to reject any or all tenders. First preference will be given to Eswatini companies,” PSPF clarified.  
 It was pointed out that experience in works of a similar nature and size for each of the last two years with details of works under way or contractually committed would be taken into account when determining who will eventually enter into a contract with the fund.
The contract will be for the whole project based on the bid price submitted by the bidder.

“All duties, taxes and other levies payable by the property valuer under the contract shall be included in the total bid price submitted by the bidder,” said the fund in the invitation to tender document. 

The prices quoted by the bidder would not be subjected to adjustment during the performance of the contract.
PSPF is a public organisation established in 1993 for the management and administration of pensions for government (public sector) employees. The scheme is run as a Defined Benefit (DB) pension and provides the following products for its members and their dependents.

As at March 31, 2017 the Fund had 39 498 Active (contributing) members, 8 000 Pensioners (retired members) and 16 225 dependents (beneficiaries) including children and spouses, all of whom receive a pension benefit from the fund. It is fully administered in-house and financed through employer and employee contributions of 15 per cent and 5 per cent of basic monthly salary respectively.

The market value of assets of the fund reached E20 billion in 2015 translating to a funding level of 90.3 per cent. While the total assets grew year on year, the funding level declined marginally owing to the increase in liabilities mainly due to the growth in beneficiary numbers.

Of the total assets base, the 30 percent local requirement (over E5 billion) was invested in various instruments in the Swaziland market and the rest offshore.
(Additional information sourced the official PSPF website) 

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