Objectives

The primary objective of this tender is to appoint a reputable financial service provider to manage and disburse monthly stipends to EPWP participants across various programs, ensuring timely, secure, and transparent payments. The provider will also offer support services such as confirmations, reconciliations, and handling payment-related queries, thereby facilitating the Department's goal of providing income support and creating temporary work opportunities.

Scope

The scope of work includes:

• Recruitment and signing of contracts with EPWP participants in line with relevant legislation.
• Management of participant placements within identified projects.
• Disbursement of stipends based on approved payment batches and days worked.
• Provision of accurate payment reports, reconciliation statements, and exception reports monthly.
• Submission of invoices and supporting documentation post-disbursement.
• Provision of banking services to participants, including issuing bank cards if requested.
• Ensuring direct disbursement of funds into participants’ bank accounts on the scheduled payment date.
• Maintaining records for audit purposes for five years post-contract.
• Regular monitoring, evaluation, and reporting as per SLA requirements.

Technical Requirements

The technical requirements include:

• Registration as a financial institution with FSCA, NCR, and other relevant authorities.
• Management of a secure and efficient banking system capable of handling disbursements to multiple bank accounts.
• Ability to transfer stipends into participants’ bank accounts regardless of their banking institutions.
• Provision of a dedicated account or business manager supported by an experienced relationship team.
• Monthly submission of electronic bank statements and reconciliation reports, including detailed participant payment data.
• Implementation of financial management systems to prevent waste, unauthorized withdrawals, and ensure audit readiness.
• Demonstration of financial stability with audited financial statements showing a minimum monthly inflow of R14 million.
• Experience in executing similar projects successfully over at least 3 years.
• Provision of a risk management plan covering financial, operational, fraud, legal, cyber, and reputational risks.

Skills Requirements

• Proven experience in disbursing government or large-scale social grants securely and efficiently.
• Strong banking and financial management expertise, including knowledge of electronic payment systems.
• Capability to manage participant data securely and maintain confidentiality.
• Ability to produce accurate, timely reports and reconcile payments effectively.
• Experience in handling large volumes of transactions and managing multiple stakeholder relationships.
• Qualified personnel with expertise in compliance, audit readiness, and financial risk mitigation.
• Dedicated account or business manager with extensive banking experience for daily operations and support.