We believe in bridging the gap, and providing business opportunities to SMMEs to access corporate supply. “SMMEs are a pivotal part of building our economy. One more from a point of job creation, but moreover from ensuring that societies have a future tomorrow,” says Vusi Fele, Absa Group Chief Procurement Officer.

Absa Procurement Marketplace is a simplified, single platform for prospective SMMEs to register their company profiles, upload their value propositions and access supply opportunities with Absa.

The portal allows prospective suppliers to:

  • Access information relating to services and/or products that Absa procures;
  • Add their details to Absa’s database, and easily identify the procurement categories and services that the bank is looking for; and
  • Qualifying SMMEs may be eligible for Absa’s Supplier Development Programme, which provides business support, training, mentoring, advisory and more.              

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Frequently Asked Questions

  • What is supplier diversity?

    Supplier diversity is a combination of preferential procurement, supplier development and enterprise development programmes to service business needs and support economic growth.
     
    Supplier diversity is a proactive business process that sources products and services from previously underused suppliers.

  • How does one become an Absa supplier?

    Absa is a regulated organisation, hence strict adherence to compliance and due diligence is eminent.
    In order for any supplier to be onboarded, the vendor onboarding process requires due diligence to be conducted, whereby a financial entity, in this case, Absa, needs to comply with certain legal checks before conducting business with Absa. To fulfil this requirement, we require some documents to conduct the necessary compliance checks.

    These checks include anti-money laundering, sanctions screening and, recently, the Ultimate Beneficiary Owner Check (a new regulation to establish the true owner of an organisation and to mitigate any adverse media while associated with the Absa Brand).

  • What documents does Absa require from potential suppliers to conduct compliance checks?

    To fulfil this requirement, we require some documents to conduct the necessary compliance checks. These checks include anti-money laundering, sanctions screening and, recently, the Ultimate Beneficiary Owner Check.

    A summary of the required documents is as follows:

    • The company’s organisational structure/hierarchy
    • The individual shareholder equity value
    • The company shareholder structure
    • The company shareholder individuals equity
    • The BBBEE-certified equity structure of the company based on black ownership and black women ownership
    • The trust information in the case where a trust is a shareholder.

    NB: This information will also be required when a supplier has been awarded a contract, as part of the onboarding process.

  • What are the requirements to get potential suppliers onboarded at Absa?

    A summary of the required documents for onboarding are as follows:

    • The company’s organisational structure/hierarchy
    • The individual shareholder equity value
    • The company shareholder structure
    • The company shareholder individuals equity
    • The BBBEE-certified equity structure of the company based on black ownership and black women ownership
    • The trust information in the case where a trust is a shareholder.

  • How do I get listed on Absa’s supplier database?

    The Absa Procurement Marketplace portal will enable Small, Medium and Micro Enterprises (SMMEs) to upload their company profiles and BBBEE certificates.

  • What does being listed on the Absa supplier database mean? Does it guarantee me business with Absa?

    Being listed on the Absa supplier database means that a supplier will stand a chance to be invited to any tenders or requests for proposals and quotations that are issued by Absa.

  • What is Absa’s commitment to SMMEs who have entered and uploaded their details to the Absa Procurement Marketplace portal?

    Our goal is to promote a two-way engagement and bridge communication gaps (where they exist), in terms of products, services, tenders and RFPs, ensuring that all relevant and suitable qualified businesses are included in our procurement processes through the Absa Procurement Marketplace portal.

    Absa’s Procurement Marketplace 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.

    Absa seeks mutually beneficial relationships with suppliers and third-party service providers based on merit, applying appropriate standards of integrity and good practice in building thriving, inclusive and healthy supplier relationships.

    We believe that opening opportunities for SMMEs to access corporate supply and delivery chains is one of the most efficient and consistent ways in which established corporates can contribute to sustainable entrepreneurship development.

    When SMMEs interact with large corporates, they are compelled to make changes to increase efficiencies. Being part of corporate supply chains also improves access to information and demands technical proficiency. SMMEs will be better positioned to access the Absa procurement value chain and gain understanding of how to do business with Absa.

  • Can I still do business with Absa even if I have an account with another bank?

    Yes, the supplier may do business with Absa if they have an account with another bank. It is not a condition to have an account with Absa to do business with Absa.

  • Who can I speak to at Absa Group Procurement about tenders or business opportunities?

    SMMEs will be able to enquire about tenders or requests for proposals or quotations on the portal.
    On uploading your details to the portal, you will receive a response from the portal within 48 hours.

  • How can I become part of the Absa Enterprise and Supplier Development Programme (ESD), to access market opportunities and funding?

    Absa’s ESD sector facilitates funding for SMMEs. This funding is provided on the back of an offtake agreement or business that has been awarded by Group Procurement.

  • What are some of the products and services that Absa procures from suppliers?

    The Absa Procurement Marketplace portal will provide SMMEs with all the various commodities and services that Absa procures. Please visit the website for more information.

  • Will Absa also provide me with funding once I’m selected as a supplier?

    Yes, the supplier will be provided with access to funding once a contract has been awarded. Funding is provided on the back of that offtake agreement or contract with Absa.

  • When does Absa publish new tenders?

    With the launch of the Absa Procurement Marketplace portal, SMMEs will be able to enquire about tenders or requests for proposals or quotations on the portal.

    On uploading their details to the portal, SMMEs will receive a response from the portal within 48 hours.

  • Who can I contact for any enquiries related to the Absa Procurement Marketplace portal (including other relevant enquiries)?

    For any enquires that you may have or assistance that you may require, please email us at absaprocurement@absa.africa. This mailbox is manned by our supplier assurance team, who will direct your enquiry to our relevant team members.

Need more help?

Let one of our consultants assist you.

Email us at: absaprocurement@absa.africa

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