President Cyril Ramaphosa has assented three new laws for South Africa focusing on small business, climate change, and public procurement.
President Cyril Ramaphosa signed three Bills into law on 23 July 2024 focusing on small business, climate change, and public procurement in South Africa.Introduced by the Minister of Finance in late June of 2023, the legislation establishes a single framework that regulates public procurement, including preferential procurement, by all organs of state.
The Act prohibits bids from individuals such as public office holders, parliamentary and provincial legislature employees, as well as officials of public entities, constitutional bodies, municipalities, and their entities. “Public procurement is currently regulated by various statutes, regulations and statutory instruments,” thus fragmented, explained the experts.
The law outlines that aims to boost South Africa’s capacity to cut greenhouse gas emissions and enhance climate resilience, while minimising job losses by boosting the green economy.
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