Building a stronger Public Sector
By Author
Timothy Matlala
Head: Public Sector, Business and Commercial Banking, Standard Bank
There’s public sector banking, then there’s going beyond to deliver excellence in serving those who serve us.
At the core of South Africa's economic and social advancement is the pivotal role of the Public Sector. That's why we’re wholeheartedly committed to delivering market-leading and efficient solutions to enable the people and organisations tasked with delivering services to our country.
Working in this space is not simply about providing banking services. It's about the resulting impact our services have in the communities across South Africa.
That’s why our goal is to empower government departments, municipalities, and state-owned enterprises, by enabling them to effectively fulfil their mandates and drive positive change.
We do this by partnering with our Public Sector clients to provide world-class financial services, risk management tools, ethical and responsible business practices, and best-practice insights drawn from our extensive experience in the sector, domestically and internationally.
This enables us to build a stronger South Africa together, by strengthening the Public Sector’s ability to impact its constituents positively.
Here’s what our Business and Commercial Banking Public Sector team is proud of achieving in the first half of 2024:
1. Concluding 6 major contracts
Since the start of the year, we‘ve successfully secured six significant transactional banking contracts, spanning five provinces:
- Cederberg Local Municipality (Western Cape)
- Dr Beyers Naude Local Municipality (Eastern Cape)
- Eastern Cape Socio-Economic Consultative Council (Eastern Cape)
- Polokwane Local Municipality (Limpopo)
- Richtersveld Local Municipality (Northern Cape)
- Umvoti Local Municipality (KwaZulu-Natal).
2. Driving sustainable development initiatives
Beyond traditional banking services, we believe in adding real value by providing financial and development assistance to the small enterprises that do business with the Public Sector and collaborative partnering on socioeconomic CSI initiatives to uplift communities.
In the first quarter of 2024, we continued our collaboration on one such initiative with the Garden Route District Municipality on the development and construction of their Regional Landfill Site. This project addresses the critical need to manage local municipal waste effectively across the region.
Scheduled for completion in March 2025, the facility will cater to low and medium-hazard-rated hazardous waste and will promote responsible waste disposal practices and environmental sustainability across multiple communities.
3. Propelling the forestry sector forward
Our Commercial Asset Finance solutions played a pivotal role in supporting the South African Forestry Company Limited (SAFCOL) in upgrading its plant and equipment. As a PFMA Schedule 2 entity, mandated to conduct forestry business domestically and internationally, SAFCOL's operations are indispensable.
Our funding solutions have facilitated their access to state-of-the-art forestry equipment, allowing for seamless operations and furthering their contribution to the forestry sector.
4. Equipping Midvaal Local Municipality with essential services vehicles
Recognising the importance of service delivery to local communities, particularly for small and medium-sized municipalities, we’ve provided various funding solutions to support entities such as the Midvaal Local Municipality in meeting their vehicle funding needs for two consecutive years.
Our partnership has enabled the acquisition of essential vehicles, including sewer jetting machines, fire trailers, tractors, and light-duty vehicles, bringing crucial services closer to residents and enhancing the agricultural hub of Gauteng.
5. Investing and growing Public Sector funds
In the area of savings and investments, our offerings assist clients in growing their reserves and excess funds. In H1 2024, we acquired investments of approximately R6.35 billion.
These accomplishments underscore our unwavering commitment to delivering innovative financial solutions and building value-driven partnerships with our Public Sector clients.
Interested in learning more?
For more information on our Public Sector offering, please reach out to your Relationship Manager.