Appointment of credit rating agencies (domestic & international) for IDC – 5-Year contract

• Closing date and time: 28 July 2026 at 11:00 AM.
• Non-compulsory briefing session: 20 July 2026 at 09:00 AM via Microsoft Teams.

• Link: https://teams.microsoft.com/meet/36970633959NON-COMPULSORY BRIEFING SESSION 1342?p=hLKFscVfOtA5MRc6tK
• Meeting ID: 369 706 339 591 342
• Passcode: XZ3zh9cA

• Enquiries deadline: 20 July 2026 at 16:00 PM.
• Bid validity period: 120 days from closing date.

• Enquiries contact: Joseph Phiri.
• Email: [email protected].
• All enquiries must be submitted in writing.
• Enquiries response will be posted on IDC website (www.idc.co.za) under tenders within two days after enquiry deadline.

• Submit bids electronically only via the specified portal: https://idcza-my.sharepoint.com/:f:/g/personal/moitlisim_idc_co_za/IgAWc2xk0XzhTqwdJgxwPMVRARUIMEjUO0ZoY9Txr1AQAbk
• Closing date: 28 July 2026 at 11:00 AM. No late bids accepted.
• Submit at least 30 minutes before the deadline to avoid technical issues.
• File formats: Use standard formats (Microsoft suite or PDF). Non-standard formats will cause disqualification.
• Maximum file size: 50MB.
• Amended bids must be sent to the same portal marked “Amendment to bid” before the closing date.
• Returnable schedules must be clearly marked and include:

• Cover page with RFP reference number, description, and bidder name.
• Schedule 1: Executive summary.
• Schedule 2: Board resolution, certified ID copy, completed Annexures 2, 3, 4, 6, 7, 8 (if applicable), financial statements, and joint venture agreement (if applicable).
• Schedule 3: Response to Section 2 and completed Annexure 2.
• Schedule 4: Price proposal as a separate file.

• Disqualification risks:

• Submitting to incorrect platform.
• Incomplete or late submissions.
• Non-compliant tax status.
• Prime contractor holding lower contract value percentage than subcontractor(s).
• Fraudulent or inaccurate information.

• Submit bids only to: https://idcza-my.sharepoint.com/:f:/g/personal/moitlisim_idc_co_za/IgAWc2xk0XzhTqwdJgxwPMVRARUIMEjUO0ZoY9Txr1AQAbk

For domestic category: Must be registered with the Financial Sector Conduct Authority (FSCA) and in good standing. For international category: Must demonstrate global recognition and experience with international ratings. All bidders must have relevant experience rating institutions (SOEs, banking sector, private sector), provide at least three contactable references from the last five years, and have qualified analysts with appropriate experience. Bidders must also comply with South African tax laws and B-BBEE requirements (certificate or sworn affidavit).

Scope: Appointment of credit rating agencies for five years to provide domestic/national and international/global credit ratings for IDC.

• Domestic/National Rating Scope:

• Provide national scale long-term and short-term issuer ratings.
• Initial credit rating assessment.
• Ongoing rating surveillance and monitoring.
• Instrument ratings for debt programmes.
• Advisory and ad-hoc rating support.
• Service levels: Specify turnaround times, review timeframes, analyst availability, escalation procedures.
• Deliverables: Initial rating report, annual surveillance reports, interim reviews, instrument reports, market intelligence, public announcements.

• International/Global Rating Scope:

• Provide global scale issuer and instrument ratings, including Eurobonds.
• Initial assessment, ongoing surveillance, instrument ratings, advisory support.
• Same service level and deliverable requirements as domestic scope.

• Categories: Bidders can bid for one or both categories (Domestic/National and International/Global).
• Mandatory Technical Requirements for Domestic Agency:

• Registration and good standing with Financial Sector Conduct Authority (FSCA). Submit valid FSCA certificate.

• Other Technical Requirements:

• Relevant experience: Minimum three contactable references from last five years covering SOE, banking, and private sector.
• Proposed methodology: Detail credit rating process, evaluation framework, project plan.
• Service delivery: Signed undertaking for analyst continuity and availability.
• Analyst qualifications: Provide team structure and CVs demonstrating qualifications, certifications, relevant experience.

• Presentation: Shortlisted bidders must present on understanding of IDC’s credit profile, methodology, service delivery model, investor engagement support, and case studies.

• Bidders must submit detailed methodology covering credit rating process, evaluation framework, and project plan.
• For international category, include international rating methodology, governance, surveillance, stakeholder engagement, and timelines.
• Methodology must address ESG/sustainability considerations.

• Domestic experience: Minimum three contactable references from last five years covering SOE, banking, and private sector.
• International experience: Minimum three contactable references for similar institutions/sovereign-linked entities, plus two references for Eurobond issuance experience.
• Analyst qualifications: Provide team structure and CVs showing academic/professional qualifications, certifications, relevant experience, and expertise.
• IDC may consider past performance with IDC over last five years.

• Service Level Agreement (SLA) required upon award to measure and monitor supplier performance.
• Successful bidder must provide scorecard on how service offering is measured.
• Methodology must include credit rating process, evaluation framework, governance, surveillance, stakeholder engagement, project plan, and deliverables.

• Provide annual rating fees for five years (VAT exclusive) for domestic and international categories.
• Include disbursements clearly defined.
• Specify annual price increase percentage.
• Indicate if rates are firm for contract period or adjustment basis.

• All prices must be VAT inclusive (where applicable) and quoted in South African Rand (ZAR).
• Indicate if rates are firm for the full five-year contract. If not, specify basis for price adjustments (e.g., CPI).
• Clearly specify all additional costs (e.g., disbursements) and include in total bid price.
• Disbursements (travel, accommodation, printing) must be clearly defined. If no charge, state “No Charge / Free of Charge”. Failure may result in penalty pricing.
• Use exchange rates as per SARB on 16 September 2025: USD 17.3587, GBP 23.6616, EUR 20.4772.
• Indicate if bid price is linked to exchange rate and specify which portion.
• Payment terms: Linked to approved deliverables, paid within 30 days of invoice.
• Costing model: Provide annual rating fees for five years (VAT exclusive) for domestic and international categories, including disbursements and annual price increase percentage.

• Tax compliance: Bidder’s tax affairs with SARS must be in order. Provide written confirmation.
• B-BBEE: Submit B-BBEE verification certificate. For EME (revenue < R10m) or QSE (revenue R10m-R50m), a sworn affidavit confirming annual revenue and black ownership is acceptable.
• Central Supplier Database (CSD): IDC will use CSD to verify company registration, tax compliance, and other checks.
• Company registration: Must be valid.
• Board resolution: Companies must submit certified copy of board resolution authorising signatory.
• ID copy: Submit originally certified copy of ID for company representative.
• Joint venture/consortium/subcontracting: If applicable, submit agreement signed by all parties and provide documents for each member.
• Prime contractor rule: Prime contractor must not hold lower percentage of contract value than any subcontractor.
• Promotion of black-owned entities: Encouraged to partner with 50%+1 black-owned entities via joint venture or subcontracting. Submit partnership proposal and consolidated B-BBEE scorecard or individual certificates/affidavits.
• Specific Goals scoring: Points allocated for black ownership, black women ownership, black designated groups, and promotion of SMMEs (EME/QSE).

• Deliverables include rating reports, surveillance reports, instrument reports, market intelligence, and public announcements.
• ESG/sustainability factors must be incorporated into rating assessment for both domestic and international categories.

• Bid validity: 120 days from closing date.
• IDC not responsible for bids sent to incorrect platform, non-standard formats, security breaches, network delays, or file size exceeding 50MB.
• Bidders must ensure pages are not missing or duplicated; IDC accepts no liability.
• Prime contractor must not hold lower contract value percentage than subcontractor(s).