Independent review of own risk and solvency assessment (orsa) for ecic – 3-Year contract

• This Request for Proposal (RFP) is for an independent review of ECIC's Own Risk and Solvency Assessment (ORSA) maturity over three years.
• ECIC is a state-owned entity mandated to facilitate South African export trade and is regulated as a Financial Service Provider.
• The ORSA process is integral to ECIC's risk governance and strategic planning, ensuring adequate capital for solvency and business requirements.
• The review must comply with the Prudential Authority's GOI 3.1 standard, requiring an independent, operationally qualified person.

• Closing date: Tuesday, 07 July 2026.
• Closing time: 11:00 SAST.
• Deadline for questions: Friday, 19 June 2026.
• Response to questions published: On or before Wednesday, 24 June 2026.
• Estimated evaluation timeline:
• Compliance evaluation: Friday, 17 July 2026.
• Functional evaluation: Friday, 24 July 2026.
• Preference points evaluation: Friday, 31 July 2026.
• Bid adjudication: Friday, 07 August 2026.
• Bid validity period: 120 days, expiring Wednesday, 04 November 2026.
• ECIC will notify all bidders of outcome within 30 days from date of acceptance of bid.

• For procurement enquiries and submission: Email [email protected].
• Contact person: Lulama Makwela.
• Physical address for hand-delivery: Byls Bridge Office Park, Building 9, Fourth Floor, 11 Byls Bridge Boulevard, Highveld Extension 73, Centurion, 0157.
• General ECIC contact: Tel +27 (0)12 471 3800, Email [email protected].

• Submit proposals in PDF format via email to [email protected] by the closing date and time.
• If the PDF is less than 20MB, submit as one document; if larger, split to stay under 20MB.
• Hand-delivery is allowed at ECIC's physical address: Byls Bridge Office Park, Building 9, Fourth Floor, 11 Byls Bridge Boulevard, Highveld Extension 73, Centurion, 0157. Include a USB with your proposal.
• Late submissions will not be accepted.
• All enquiries must be in writing to [email protected] by Friday, 19 June 2026. Questions must reference specific paragraph numbers.
• No telephonic or other communication with ECIC staff other than the named contact is permitted.
• Required returnable documents include completed and signed Standard Bidding Documents (SBD 1, SBD 4, SBD 6.1).

Bidders must: (1) Be registered on the National Treasury Central Supplier Database (CSD); (2) Be tax compliant; (3) Have no directors/trustees/shareholders employed by the State; (4) Not be restricted from conducting business with the State; (5) Not have transgressed Prevention and Combating of Corrupt Activities Act or Competition Act; (6) Obtain minimum 80 out of 100 points in functional evaluation; (7) Be operationally independent of ECIC's ORSA process; (8) Have minimum 3 contactable reference letters for similar ORSA/risk management engagements to insurance companies within the last 24 months.

• Scope: Independent review of ECIC's Own Risk and Solvency Assessment (ORSA) maturity over three years, as per Prudential Authority's Governance and Operational Standards for Insurers (GOI 3.1).
• Deliverables:
• Assess maturity of five ORSA components: ORSA Policy, Governance, Risk Management, ORSA Outcomes, and Capital Management.
• Provide a review/assurance report with findings and recommendations.
• Present the report to ECIC management and the Risk Committee of the Board of Directors annually (virtual or in-person).
• Travel reimbursement for in-person meetings per ECIC's Travel Policy (three-star accommodation, ground transport at National Department of Transport rates).
• Due diligence/site inspection may be conducted at ECIC's discretion to verify bidder information.

• The methodology evaluation criterion (50 points) assesses the bidder's proposed approach to the ORSA independent review.
• Key factors: Clearly demonstrated approach and methodology, understanding of ORSA requirements, and articulated success factors and milestones.
• Points are awarded based on the extent these factors are met.

• ECIC may conduct due diligence or site inspections at its discretion to verify bidder information.
• If inconsistencies are found, ECIC reserves the right to disqualify the bidder.

• Mandatory documents: Valid registration on the National Treasury Central Supplier Database (CSD).
• Tax compliance: Submit Tax Compliance Status (TCS) PIN from SARS or CSD number if no TCS PIN.
• Standard Bidding Documents: Must complete and sign SBD 1 (Invitation to Bid), SBD 4 (Declaration of Interest), and SBD 6.1 (Preference Points Claim Form).
• B-BBEE: Provide a valid B-BBEE Certificate or Sworn Affidavit to claim Specific Goals points.
• Sub-contracting: Generics may subcontract ≥30% to Black-owned, Black women-owned, Black youth-owned, Black people with disabilities, EMEs, or QSEs. EMEs and QSEs can bid without subcontracting.
• Disqualification risks: Bidders restricted from doing business with the State, non-compliant tax affairs, or failure to declare business interests will not be awarded.

• The contract will be documented separately between ECIC and the appointed bidder.
• ECIC reserves rights to amend bid conditions, cancel the bid, award to multiple bidders, negotiate, and conduct site visits.
• Confidentiality of submission information is required.
• ECIC disclaims liability for any incorrect or misleading information in the bid.
• Personal information provided will be processed in accordance with POPI.

• The 80/20 preference point system applies: 80 points for price, 20 points for Specific Goals (B-BBEE).
• Bidders must indicate their claimed points in the SBD6.1 form; failure to do so results in zero points.
• Points for Specific Goals are awarded based on B-BBEE Procurement Recognition Level and ownership percentages.