Draft Public Procurement Bill on track
President Ramaphosa, during remarks at the SMME programme of the Second South Africa Investment Conference, announced that the proposed legislation will be finalised soon.
He added that, in terms of the draft bill, organs of state will be required to subcontract SMMEs to a minimum of 30% of the value of the contract for contracts that are above R30 million.
“Whoever receives a tender must sub-contract a minimum of 30% of the value of the contract to SMMEs that are at least 51% black owned.”