Municipality, bank take hands

2019-04-10 06:00

The Nedbank group announced a five-year deal with the Mangaung Metro Municipality.

Since 1 April, Nedbank is the city’s official banker. This comes into effect with the start of the municipality’s financial term of 2019/20.

One of the leading banks in South Africa, the group was offered the deal after pitching a winning bid. According to Adv. Tankiso Mea, Mangaung city manager, the bank was offered the deal after presenting a detailed tender process, the two parties are looking forward to a good relationship.

Phumela Xanywa, Nedbank’s national head of business banking, said the account was awarded after a lengthy and competitive tender process.

“Based on our understanding of the sector, we have developed tailor-made solutions that address the unique challenges faced by various tiers of the government,” Xanywa said.

“Our role goes beyond providing banking solutions, as we play an active role in empowering the communities in which we operate.

“Nedbank supports various enterprise development initiatives to develop small-business skills by providing access to mentoring programmes, holistic banking services and funding,” Xanywa said.

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