BY BUSINESS EDITOR
MBABANE – Image Makers (Pty) Ltd has been listed as the best evaluated tenderer to be awarded for the Eswatini National Provident Fund (ENPF) tender.
ENPF was looking for a supplier with the ability to supply male corporate uniform and there were only two companies who showed interest for the tender, these were Image Makers (Pty) Ltd from South Africa and Mr Matata from Eswatini.
The best evaluated company obtained a financial score of 93 per cent while the competitor received 68.57 per cent when evaluated by ENPF. This was published by the Eswatini Public Procurement Regulatory Agency (ESPPRA) on their website.
The South Africa Company is expected to begin executing the tender after 10 working days, should they not be contented.
ENPF revealed that its member funds amounted to E4,81 billion as compared to E4,46 billion in 2021.
This is contained in the Fund’s Annual Report for the year ended 30 June 2022.
ENPF discloses in the report that the total number of registered members was 142 023, which was a 2.99% increase over the year 2021.
Meanwhile, the Fund’s total number of active registered employers stood at 6 804 compared to 6 720 in 2021.
The Fund notes that one of its biggest achievements to date is its ability to pay members their benefits on time.
“The Fund continues to be the envy of most social security schemes in that it always pays its members their benefits in less than two (2) days, on average, of launching the claim. The average days that claims were processed and paid during the year under review was 1.8 days, which was actually an improvement when compared with the number of days in the prior year, where the Fund took an average of 2.47 days.”
ENPF has divulged that when it comes to compliance they are lagging behind their own benchmark.
“Regarding compliance rate, the Fund continues to lag behind its set benchmark of 92%. During the year under review, the Fund achieved an average compliance rate of 86.96% which was an increase from last year’s rate of 84.67%. This year’s compliance rate though lower than the prior year compares favourably to other pension and provident funds worldwide.”
In terms of contributions for the financial year under review, the Fund realized an 8% increase.
