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Buy nowMossel Bay Municipality seeks registered financial institutions to provide external loans totaling R60,100,000 for various capital projects. The loans will have a term of 15 years with specific repayment conditions.
The Mossel Bay Municipality is inviting proposals from registered financial institutions to provide external loans amounting to R60,100,000. These funds will be allocated to critical capital projects, including upgrades to water and sewer infrastructure, aimed at enhancing municipal services. The loans will be structured over a term of 15 years, with bi-annual repayments due on June 30 and December 31 each year. Bidders must provide fixed or floating interest rate options, ensuring the rates are locked for the duration of the loan.
The successful bidders will play a vital role in supporting the municipality's infrastructure development goals, which are crucial for improving service delivery to the community. The tender process will adhere to the Municipal Finance Management Act, ensuring transparency and fairness in the selection of financial partners. Interested institutions must submit their proposals by the closing date, along with the required documentation, including amortization tables and compliance certificates.
This tender is suitable for registered banks and financial institutions with experience in providing municipal loans and financing for infrastructure projects. Institutions must be capable of offering competitive interest rates and have a strong compliance record.