REQUEST FOR PROPOSALS (RFP) FOR THE APPOINTMENT OF A SERVICE PROVIDER FOR THE INVESTMENT OF NATIONAL LOTTERIES COMMISSION (NLC) SURPLUS FOR A PERIOD OF FIVE YEARS.

Overview

RFP to appoint a service provider to invest the National Lotteries Commission (NLC) surplus for five years. Open to Financial Services Providers (FSPs) and/or locally registered banks with appropriate licenses (FSCA Category II FSP or Banks Act). Objectives: capital preservation, liquidity, and yield within policy. NLC surplus is circa R5.3 billion; monthly cash need about R250 million. Multiple providers may be appointed; no single counterparty may exceed 25% unless approved.

Requirements

• Valid FSCA Category II FSP license or Banks Act license;
• Insurance: Professional Indemnity, Directors & Officers, Cyber, Fidelity;
• Compliance: FAIS, Banks Act, POPIA, tax, and other SA laws; CSD registration; disclosure of any regulatory actions; business continuity and cybersecurity frameworks;
• Investment capabilities: invest in permissible instruments (short-term/ fixed-term deposits, government instruments, money market/ fixed-income funds) with no derivatives or equity exposure; counterparty long-term ratings BBB- (S&P/Fitch) or Baa3 (Moody’s), short-term A-3/F3/P-3; max 25% per institution; funds ring-fenced; regular reporting;
• Deliverables and governance: documented liquidity plan, risk framework, investment committee structure, and independent risk oversight; provide reference letters and CV of Lead Portfolio Manager; organogram; SBDs and pricing schedules; audited FS and AUM for last three years (asset managers) or total assets (banks); B-BBEE documentation; JV agreement if applicable.

How to Apply

• Submission: via the e-tender portal; no email or physical submissions (PDFs with pricing in a separate folder).
• Deadline: 06 November 2026 at 11:00; proposals valid for 160 days.
• Documents to submit: Bid proposal, SBD forms, pricing schedule, CSD proof, tax compliance, B-BBEE certificate/affidavit, JV agreements (if any), CV of Lead Portfolio Manager, organogram, Investment Committee and risk oversight descriptions, insurance proofs, Audited FS/AUM, reference letters.
• Pre-qualifications: CSD registration required; FSCA/Banks Act licenses; POPIA compliance.
• Briefing: no briefing session (NLC2026-009-ToR for Investment Surplus for NLC.pdf).
• Documents to obtain: from the e-tender portal and NLC’s site (no links here).