FNB, CPBN discuss ways to improve procurement

First National Bank (FNB) Namibia recently hosted the Central Procurement Board of Namibia (CPBN) for a stakeholder engagement aimed at strengthening cooperation on performance guarantees, a key requirement in public procurement.

The engagement brought together officials from the procurement board and the bank to discuss ways of improving efficiency, transparency and collaboration in the procurement value chain.

The CPBN delegation was led by its CEO, Idi Itope, while FNB Namibia was represented by its head of enterprise banking, Leonard Hamunyela, and manager of public sector, Priscilla Akudhenga. Performance guarantees are mandatory under Section 55(6) of the Public Procurement Act, 2015 (Act No. 15 of 2015), and must be submitted before a contract is awarded.