Absa opens procurement portal to streamline supplier diversity

African financial services provider Absa Group has opened their user-friendly procurement portal, allowing Small, Medium and Micro Enterprises (SMMEs) to apply and be verified as suppliers.

Absa Group opens procurement portal for SMMEs to be verified as suppliers

This opportunity means that SMMEs, currently the drivers of our post-pandemic economy, will be able to search for and network with corporate suppliers and win tenders which previously would not be accessible. The portal aims to be available across the continent but will be launched first in South Africa. 

Responsible and inclusive procurement

Tender management solutions and secure technology requests are just two portal tools that will make collaboration between future suppliers and corporations possible. Absa’s end-goal sees a dialogue created to close gaps in communication around products, services, tenders and RFPs so that all relevant businesses have equal opportunity to apply. 

Suppliers can enter their details into Absa’s database and quickly identify necessary procurement categories and services, including construction, ICT, marketing and cash management. SMMEs have access to corporate supply and Absa will continue to further their ongoing entrepreneurship development programmes. 

Vusi Fele, Chief Procurement Officer at Absa Group Ltd, says “Absa’s Procurement Market portal not only demonstrates Absa’s strategy of promoting responsible and inclusive procurement practices but also ensures that all suppliers are aware of the bank’s service requirements – information that was not previously widely available. What’s more, it will help us build mutually beneficial, thriving, inclusive and healthy supplier relationships.”

Fele believes that a supplier diversity approach will drive sustainability and invigorate the bank’s supply chain.  “Not only will we be able to identify suppliers that comply with B-BBEE requirements, but we will also be able to award and extend contracts to currently Exempted Micro Enterprises (EME) and Qualifying Small Enterprises (QSEs). We are also excited to welcome new suppliers to our business.”

Qualifying SMMEs participating in the programme are also eligible for Absa’s Supplier Development Programme, which provides business support and training, and funding at good interest rates with minimal to no collateral required.

Fele motivates small businesses across Africa to join.

“We look forward to leveraging this portal to drive meaningful entrepreneurship development and deliver material benefits to local economic and social reform.”

Visit the portal to sign up or for more information.

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Featured image: Vusi Fele, Chief Procurement Officer at Absa Group Ltd (Supplied)