Ricochet News

Western Cape Government awards commercial banking tender to Nedbank

Mar 16, 2017
Western Cape Government awards commercial banking tender to Nedbank

Nedbank Ltd, one of South Africa’s leading banks, has been appointed to provide commercial banking services to the Western Cape Government for the next five years.

Head Official of the Western Cape Provincial Treasury, Zakariya Hoosain, confirmed that Nedbank would provide services including accounts for the Provincial Exchequer and the Pay-Master General.

“We are delighted, following a very competitive tender process, to have Nedbank on board as our official banker for the next five years and we look forward to cementing a business relationship that will benefit the citizens of the Western Cape”.

Nedbank CIB’s Managing Executive: Client Coverage, Dr. Terence G. Sibiya, says that given the Western Cape Government’s track record, he was pleased that Nedbank has been given the opportunity to retain its primary banker status for a third five-year term to provide a basket of cost-effective, quality services.

“This win is a demonstration of our commitment to use our financial expertise to do good for corporations, financial institutions, state-owned entities and the government”, he explains, “and we are proud to deliver on this promise to help meet the goals and economic growth of the province”.

The contract period commences 1 April 2017.