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STORIES FROM THE AFRICAN CONTINENT PAGE 7
City gets new banking partner ‘We believe the partnership will support the City as it rolls out the GDS 2040 Strategy through commitments undertaken during the bidding presentation on numerous aspects’ Moses Moyo moses@inner-city-gazette.co.za
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City Manager Trevor Fowler
PIC: INNER-CITY PRESS AGENCY
he City of Joburg has entered into a new banking partnership with Standard Bank, after a tender bid in which participating banks were subject to the same rules, in line with the Municipal Finance Management Act (MFMA), says City Manager Trevor Fowler. “We believe the partnership with Standard Bank will support the City as it rolls out the GDS 2040 Strategy through commitments undertaken during the bidding presentation on numerous aspects, which are in
line with socio-economic transformation and the strategic objectives of the organisation.” In terms of the mandate, Standard Bank will provide the City with transactional banking services for the next five years. This includes payments, collections and liquidity management; property management; and comprehensive banking services for municipal employees, Fowler adds. The bank will also partner with the City on various socio-economic transformation initiatives. “To minimise fraud, no banking details like the actual account num-
ber and location of the branch will be supplied by the customer. There is already a unique Customer Identify Number (CIN) of the bank for City of Johannesburg customers. This will be shown on the computer screen a Standard Bank branch each time the customer deposits payment,” Fowler says. Standard Bank’s Head of Transactional Product and Services, Neil Surgey says the bank has been an integral part of Joburg for 126 years. “ We are delighted to be appointed official bankers to the City and believe that this partnership will benefit all Johannesburg’s citizens.”
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