The Banks Board Bureau (BBB), which oversees the search for state-owned banks and financial institutions, on Monday called on bids from factories to make back-up appointments for directors.
The firm will prepare a confirmation report for baptism to anyone wishing to provide the required comments to BBB members prior to individual contact with the office, according to a public notice issued to invite bids.
“A bidder will be appointed under the Quality Cum Cost Based System (QCBS) system which weighs 80:20 (80 percent technical proposal and 20% financial proposal) and in accordance with the procedure outlined in this RFP,” it said.
It also said the factory would be paid R9,000 per person to about 50 candidates a year.
The agency is expected to review the history of education and employment, criminal cases and automatic cases if there are any other provisions of the Bureau.
The company should also scrutinize the content of the candidate’s social media platforms, adding that it will be given three weeks to complete the process.
The selected firm will be operational for two years, subject to a performance review after one year by the Bureau. The application deadline is October 5, 2021, it said. The government in 2016 adopted the BBB constitution as a body of experts and key officials to make recommendations for the appointment of full-time directors and non-executive chairpersons of PSBs and state-owned financial institutions.
It is also responsible for consulting the board of directors of all PSBs to develop appropriate strategies for their growth and development.
In addition, it was requested to construct a strategic discussion on mergers. The government wanted to encourage bank boards to restructure their business strategies and suggest ways to integrate and merge with other banks.