The industrial development corporation (IDC) invites proposals from authorised foreign exchange dealers to provide comprehensive foreign currency services for its corporate travel operations. The appointed service provider will handle buying and selling of foreign currency, multi-currency card management, delivery and collection channels, and related support services over a three-year contract, with a focus on compliance, security, and cost-effectiveness.
Key Requirements
Submit electronically via the dedicated SharePoint link before 21 August 2026 at 11:00 AM; late or incorrectly submitted bids will be disqualified.
Must be authorised by the South African Reserve Bank (SARB) as a Dealer in foreign exchange and provide documentary proof.
Provide at least three references of similar work done in the past five years (2021–2026) and meet the 70% minimum functionality score.
Submit all required returnable schedules, including Annexures 2–8, B-BBEE certificate or sworn affidavit, financial statements, and a separate price proposal.
Pricing must be in ZAR (VAT inclusive where applicable) and based on the specified monthly volumes (25 cards, 50 transactions, R500,000 value) for evaluation.
Ensure tax compliance with SARS and provide CSD number; each JV/consortium/subcontractor party must submit separate proof.
Demonstrate capacity for delivery/collection at IDC offices and major airports (Johannesburg, Durban, Cape Town), and provide a dedicated Key Account Manager with CV.
Professional Services & Consulting Industry Profile
Regulatory Bodies
SAGCSAICA
Tenders in this industry often require registration with these bodies.
Typical Documents
5 items
Company Registration (CIPC)
Tax Clearance Certificate
B-BBEE Certificate
CSD Registration
Company Profile
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Document read. The full tender notice and its supporting documents are read end-to-end. Key sections, requirements, dates, and contact details are identified and pulled into a working summary you can act on.
Compliance review. The working summary is checked against South African procurement standards — PFMA, PPPFA, B-BBEE, CIDB, local content, and preferential procurement — so nothing critical is missed before you start your bid response.
DocumentT46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdfReview complete
Description
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf
Important Dates
06 Aug
2026
PUBLICATION
Tender Published
Tender was published
21 Aug
2026
DEADLINE
Closing Date
Tender closing date
Procurement Rules & Compliance ContextThis tender may be governed by South African public procurement rules covering fairness, transparency, preferential procurement, anti-corruption, administrative justice and access to information.
7 rules
These references help suppliers understand the public-procurement framework around this opportunity. They are generated from the tender category, issuing organisation type and procurement context.
Core procurement rules
These rules commonly apply to South African public-sector procurement.
7
Broad-Based Black Economic Empowerment Act (B-BBEE Act)
Act 53 of 2003
high
Provides the empowerment-compliance context often used in public-sector supplier evaluation.
Relevant because this is a South African public-sector procurement opportunity.
Constitution of the Republic of South Africa, 1996 – Section 217
Act 108 of 1996 (s217)
high
This is general procurement context, not legal advice. Always verify requirements in the official tender documents and issuing authority notices.
T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf
The Industrial Development Corporation of South Africa Limited (IDC) is seeking to appoint a service provider for the provision of foreign currency services to support its corporate travel operations. The scope includes buying and selling foreign currency, issuing and managing multi-currency travel cards, delivery and collection channels, account management, systems integration, compliance with SARB and POPIA, and reporting. The contract is for a period of three years. Bids are due by 21 August 2026 at 11:00 AM, with a validity period of 120 days. The evaluation will be based on functionality (minimum 70% score), price (80 points), and specific goals (20 points).
Industrial Development Corporation of South Africa Limited
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Appointment of a service provider for the provision of foreign currency services for the IDC, supporting official international travel for IDC Corporate Travel.
Important Dates
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf (RFP)
Closing date: 21 August 2026 at 11:00 AM
Enquiries deadline: 13 August 2026 (no enquiries entertained after this date)
Enquiries response: IDC will post consolidated response within two days after last enquiry day on IDC website (www.idc.co.za) under tenders
Tender validity: 120 days from closing date
Contract duration: 3 years, starting immediately after award
Contact Information
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf (RFP)
Closing date: 21 August 2026 at 11:00 AM (before midday). No late bids will be considered.
Bids sent to any other email address will be disqualified.
Use standard electronic formats (Microsoft Office or PDF). Non-standard formats may lead to disqualification.
Email servers accept up to 50MB. Bids larger than 50MB will not be accepted.
Submit at least 30 minutes before the deadline to avoid technical issues.
Amended bids must be sent to the same SharePoint link, marked "Amendment to bid", before closing.
All documentation must be in English.
Include all returnable schedules: Cover Page, Schedule 1 (Executive Summary), Schedule 2 (Board Resolution, ID copy, Annexures 2-8, financial statements, JV/consortium agreements if applicable), Schedule 3 (Response to Section 2 using Annexure 1 format), Schedule 4 (Price Proposal as separate file).
Each schedule must be clearly marked.
Bids must be signed by a person duly authorised by a Board Resolution (certified copy required).
Ensure tax affairs with SARS are in order; provide written confirmation.
If bidding as Prime Contractor with subcontractors, the Prime Contractor must hold a higher % of contract value than any subcontractor.
Incomplete or late bids will be disqualified.
Evaluation Criteria
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf (RFP)
Phase 1: Initial Screening – compliance with general conditions, CSD checks, tax compliance, B-BBEE status, submission of all required documents. Failure leads to disqualification.
Phase 2: Technical/Functionality – Mandatory requirements (SARB authorisation) must be met; otherwise disqualified. Other functional criteria weighted: Bidder's Relevant Experience (40), Proposed Methodology (20), Geographic Branch Coverage (20), Proposed Account Manager (10), Sample Reports (10). Minimum qualifying score: 70%.
Phase 3: Preference Points (80/20 system) – Price (80 points), Specific Goals (20 points). Specific Goals: Black ownership (10 points for 100% black-owned; 4 points for 51%-99.99%), 30% Black women ownership (5 points), any % Black Designated Groups (2 points), Promotion of SMMEs (EME/QSE) (3 points). Only direct Black shareholding with exercisable voting rights qualifies.
Phase 4: Objective Criteria – Award to highest scoring bidder unless objective criteria justify otherwise. Risk assessed: reputational, concentration, financial capability, past performance with IDC.
IDC reserves right to conduct site visits, verify references, and consider past professional conduct over the last 5 years.
Technical Specifications
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf (RFP)
Scope: Provision of foreign currency services for IDC Corporate Travel, including:
Buying and selling foreign currency at competitive market-related rates
Provision of major international currencies (USD, EUR, GBP, AUD, CNY, AED, CHF, etc.)
Transparent pricing with clear margins, fees, charges
Delivery and collection channels: to IDC offices, at major airports (Johannesburg, Durban, Cape Town), defined turnaround times
Dedicated account manager and support team
Systems integration capability with IDC's online booking/travel management tools
Compliance with SARB regulations, exchange control, POPIA
Reporting: periodic reports on transactions, volumes, trends, costs; support audit and reconciliation
Service levels: consistent, reliable, secure; willingness to sign SLA
Mandatory: Must be authorised by SARB as a Dealer in foreign exchange; provide documentary proof (SARB authorisation letter, certificate/licence, listing on SARB authorised dealers list, or regulatory approval documentation)
Technical requirements: Provide 3 references of similar work in past 5 years (2021-2026); detailed methodology; geographic coverage with addresses; CV of proposed Key Account Manager; sample reports (most bought/sold currency, number of cards, spend per quarter, updates on new currencies) – can use fictional data
Methodology
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf
Provide detailed methodology for: buying/selling foreign currency; issuing, loading, reloading, cash-out of multi-currency cards; order processing, delivery, collection procedures; handling urgent/ad-hoc requirements.
Outline controls for accuracy, security, turnaround times, and service continuity.
Methodology weighted at 20% in functionality evaluation.
Experience & Qualifications
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf
Bidder must have relevant experience in foreign currency services; provide minimum 3 references of similar work in past 5 years (2021-2026).
Provide CV of proposed Key Account Manager with qualifications and experience in foreign currency services.
Key Account Manager must submit consolidated monthly reports to IDC.
IDC reserves right to verify references and conduct site visits.
IDC may consider past professional conduct with bidder over last 5 years.
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf
Prices must be VAT inclusive (where applicable) and in ZAR.
Indicate if rates are firm for full contract period; if not, provide adjustment basis (e.g., CPI).
All additional costs must be included in Total Bid Price.
Indicate if bid price is linked to exchange rate; specify which portion.
Payments linked to approved deliverables; payment within 30 days from invoice.
Rates should align with National Treasury Instruction 2017 Cost Containment Measures.
Costing model based on estimated monthly volumes: 25 multi-currency cards, 50 transactions, R500,000 transaction value.
Provide Table A (service fees per item) and Table B (commission percentage).
Total bid price = Subtotal A + Subtotal B (VAT Excl.).
Complete Price Declaration Form with total estimated amount (including VAT).
Financial Requirements
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf (RFP)
All prices must be VAT inclusive (where applicable) and quoted in ZAR
Indicate if rates are firm for full contract period; if not, provide basis for adjustments (e.g., CPI)
All additional costs must be specified and included in Total Bid Price
Indicate if bid price is linked to exchange rate; if yes, specify which portion
Payments linked to deliverables approved by IDC; payment within 30 days from invoice
Rates should align with National Treasury Instruction 2017 Cost Containment Measures, DPSA Guide on Hourly Fee Rates, or professional body guidelines
Costing model: submit pricing based on estimated monthly volumes: 25 multi-currency cards, 50 transactions, R500,000 transaction value per month (for evaluation only)
Provide Table A (service fees per item: multi-currency card, transaction fee, delivery fee, other costs, annual escalation) and Table B (commission percentage on R500,000)
Total bid price = Subtotal A + Subtotal B (VAT Excl.)
Price Declaration Form must be completed with total estimated amount (including VAT) and signed
Compliance Requirements
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf (RFP)
Must be registered on Central Supplier Database (CSD); provide CSD supplier number and unique registration reference
Tax compliance: Must be tax compliant with SARS; submit Tax Compliance Status (TCS) PIN or printed TCS; each JV/consortium/subcontractor party must submit separate proof
B-BBEE: Submit valid B-BBEE certificate or sworn affidavit (for EME with revenue <R10m or QSE with revenue R10m-R50m). Misrepresentation is a criminal offence.
B-BBEE points: Black ownership (10 pts for 100%, 4 pts for 51-99.99%), 30% Black women ownership (5 pts), Black Designated Groups (2 pts), SMME promotion (3 pts)
Must not be listed on Register for Tender Defaulters or List of Restricted Suppliers
Complete Annexure 4 (Bidder's Disclosure) – declare any state employment, relationships, interests; false declarations lead to disqualification
Complete Annexure 5 (Shareholders and Directors Information) – include trust details if applicable
Complete Annexure 7 (Disclosure Statement) and Annexure 8 (POPIA requirements)
Provide latest audited financial statements (or independently reviewed, or cashflow budget for new entities)
If JV/consortium/subcontracting, submit signed agreement and all required documents for each party
Prime Contractor must hold higher % of contract value than any subcontractor
Contractual Terms
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf
Contract duration: 3 years, starting immediately after award.
Successful bidder must conclude a Service Level Agreement (SLA) with IDC, forming part of the contract.
Bid validity: 120 days from closing date.
IDC may amend bid conditions, validity, specifications, or extend closing date before closing; amendments posted on IDC website.
IDC not bound to accept lowest or any bid; may award to bidder that is functionally acceptable and financially advantageous.
IDC may conduct site visits, request additional information, and perform background checks (including FICA).
IDC may appoint any number of vendors if panel is considered.
IDC may consider past professional conduct with any bidder over last 5 years.
Bidder must prepare for possible presentation within 5 days of notification.
Bidder's offer remains binding during validity period.
Bidder accepts responsibility for price mistakes and all costs of preparation.
All supporting documentation becomes IDC property unless stated otherwise.
Prime Contractor must hold higher % of contract value than any subcontractor.
Section
Source: T46-08-26 -RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf
Phase 2: Technical/Functionality – Mandatory requirements must be met; other criteria weighted: Relevant Experience (40), Proposed Methodology (20), Geographic Branch Coverage (20), Account Manager (10), Sample Reports (10). Minimum 70% to proceed.
Phase 3: Preference Points (80/20) – Price (80), Specific Goals (20). Specific Goals: Black ownership (10 pts for 100%, 4 pts for 51-99.99%), 30% Black women ownership (5 pts), Black Designated Groups (2 pts), SMME promotion (3 pts). Only direct Black shareholding with exercisable voting rights.
Phase 4: Objective Criteria – Award to highest scorer unless risk assessment justifies otherwise. Risk factors: reputational, concentration, financial capability, past performance.
Bidders must have valid B-BBEE certificate or sworn affidavit (EME/QSE).
Sets the constitutional standard for fair, equitable, transparent, competitive and cost-effective public procurement.
Relevant because this is a South African public-sector procurement opportunity.
19 Fredman Dr, Sandown, Sandton, 2031, South Africa
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eTenders.gov.za
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06 Aug 2026
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