STANDARD BANK TO HANDLE ERS BANK ACCOUNTS

MBABANE - Standard Bank Ltd has been enlisted as the best evaluated tenderer to be awarded the banking services tender.

The tender was issued by the Eswatini Revenue Service (ERS) and four banks expressed their intention for the contract. These were EswatiniBank, Nedbank Eswatini, FNB South Africa and Standard Bank Eswatini. This was revealed by the Eswatini Public Procurement Regulatory Agency (ESPPRA) on their website. The intention to award the company was published last Friday and they are expected to begin executing it after a period of 10 working days, should they not be contested.

According to the regulator, ERS was looking for a financial institution for the provision of banking services (ERS own accounts).  Worth noting, 23 tenders amounting to over E70 billion were issued by ERS in the previous financial year. The procurement of goods and services for ERS amounted to E70 757 544.86 in the previous financial year. The 23 tenders awarded were valued at E55 180 606.43 while 586 purchase orders amounted to E15 576 938.43. Goods-type tenders were worth E4 728 419, services-type tenders amounted to E40 741 998.43, and work-type tenders were worth E9 710 189.This was detailed in the ERS Integrated Annual Report 2021/2022 which was presented in Parliament two weeks ago. They collected a total of E10.787 billion in tax revenue for the financial year 2021/22. The figures contained in the institution’s integrated annual performance report reflected that the collections were 10 per cent below the target amount of E12.022 billion. The report was presented in Parliament yesterday. The shortfall of E1.235 billion was above the previous year by E0.842 billion.

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