Standard Bank appointed Mpumalanga Provincial Government banker

29 March 2011

The Mpumalanga Provincial Government invited bids for the Management of its corporate banking services last year. Following a rigorous evaluation process of all bids, Standard Bank of South Africa emerged as the winning bidder and was subsequently awarded a five year contract effective from the 1st of July 2011.

Standard Bank will be responsible for managing the banking services on the Pay Master General (PMG) and Exchequer account of behalf of the provincial government.

According to the MEC of Finance, Mrs Pinky Phosa the contract provides the government with an added advantage for modernising its financial systems whilst maintaining critical assurance on the performance and security for the investment of the province.

MEC Phosa would like to thank all the banks that submitted bids for their sincerity and dedication throughout the tender process.

“The presentations made during the bidding process indicate the extent to which the banking sector can contribute to the ideal of a better life for all and thereby enhancing the practice of the private-public partnerships (PPP)” said MEC Phosa.

The Department of Finance would like to thank the First National Bank (FNB) for ably managing the provincial account during the last term. The Department values and appreciates the manner and professionalism that FNB displayed in managing the provincial PMG.

MEC Pinky Phosa would like to thank the management and staff of the First National Bank (FNB) for their patriotic support throughout the transitional period that followed the awarding of the account to the successful bidder.

“I would like to welcome Standard Bank to our portfolio of progressive partners who have expressed greatest desire to support a development–leaning growth path in the province. We believe that the bank will ensure that the banking products and services as presented in the bid, work for the province”, concluded MEC Phosa.

For more information, contact:

Letshela Jonas on 013 766 4243 / 079 5000 154 or Joseph Mkhonto on (013) 766 4162 / 082 627 1750
Issued by Communications, Department of Finance, Mpumalanga Provincial Government