A CIDB grade is determined by the contractor’s financial capability and your works capability. This enables the Public Sector, Private Sector and the Public in general to access a contractor’s ability to undertake a respective project.
A large part of success in tendering involves a decision making process that a tenderer should have prior to tendering.
The process can be as simple as only tendering for work you have experience in, e.g. only tender for construction tenders or only venture into tenders by understanding the basics of the particular tender by using a method of breaking down the tender in three parts of A, B and C in the manner below.
“A” is for Ability to Produce.
Ability to produce on the objectives of the tender should be the primary decision to tender. This is always read as “Functionality” on tender documents.
This component involves understanding the Scope of Work to be undertaken and meeting this requirement with the necessary expertise.
This process produces better understanding of how to price and estimate each component of the work and therefore understand your prospective gains from the venture.
“B” is for Black Economic Empowerment
BEE and BBBEE are government and social aspects that strives to give access to opportunity to the previously disadvantaged.
The BBBEE certificates and Affidavits are empowerment tools that assist established businesses to trade with smaller businesses and be able to gain their respective empowerment points.
BBBEE comes well into play in the subcontractors, joint ventures and suppliers you chose for the tender, the better their score the better your overall procurement score.
“C” is for Compliance
Compliance is an important aspect of a tender as it ensures the tenderer has the necessary documentation to enter into the contract.
These documents are;
1. CIPC Company Registration Documents
2. Tax Clearance Certificates can be obtained from your SARS office as proof that you are in good standing with your tax affairs,
3. Professional Certification such as CIDB certificates are important for any Construction Industry Regulated work and NHBRC certification for any work that involves Home Building.
All three parts done well improve your chances of tender success. Should you need assistance in improving any of these parts for your business, feel free to reach out to us at TenderPoint SA and we will guide you in every aspect of your tenders.
For Grade 1 tender opportunities, SEARCH HERE
Student Loans in South Africa: How to Apply and What to Expect
For many young South Africans, accessing higher education is a dream that often comes with a financial challenge. Fortunately, several student loan optionsstrong> are available in South Africa to help fund university, college, or TVET studies. Whether you’re looking for a government loan like NSFAS or a private student loan from a bank, understanding the process is essential for success.
What Are Student Loans?
Student loans are a form of financial aid provided to eligible students to help cover tuition fees, books, accommodation, and other study-related expenses. In South Africa, these loans can come from government institutions like NSFAS or private banks such as Nedbank, Standard Bank, FNB, and Absa. Most loans offer repayment flexibility and low-interest options until you graduate.
Types of Student Loans in South Africa
- NSFAS (National Student Financial Aid Scheme): A government-funded loan/grant program for students from low-income households. Covers tuition, housing, transport, and meals.
- Bank Student Loans: Offered by most major banks. These are credit-based and require a guardian or parent as a co-signer.
- Private Loan Providers: Companies like Fundi offer educational loans covering various costs such as school fees, gadgets, and textbooks.
Requirements to Qualify for a Student Loan
Each provider has its own criteria, but most South African student loans require the following:
- Proof of South African citizenship or permanent residency
- Proof of registration or acceptance at a recognised tertiary institution
- Parent or guardian with a stable income to co-sign (for private loans)
- Completed application form with supporting documents (ID, proof of income, academic records)
How to Apply for a Student Loan
To apply for a student loan in South Africa, follow these steps:
- Identify your loan provider: Choose between NSFAS, a bank, or a private lender.
- Gather necessary documents: ID copies, academic transcripts, acceptance letters, and income statements.
- Complete the application form online or at a branch.
- Await approval: Some banks offer instant decisions, while NSFAS can take a few weeks.
- Receive disbursement: Funds are typically paid directly to the institution or your account, depending on the lender.
Loan Amounts and Repayment
The loan amount you can receive depends on your chosen lender and financial need:
- NSFAS: Covers full tuition, residence, books, and a personal allowance. The loan becomes a bursary if you pass all your courses.
- Banks: Can provide up to R120,000 or more annually, depending on tuition costs and credit history.
Repayment usually starts after graduation or once you start earning an income. Bank loans may require interest-only payments during your studies. NSFAS repayment only begins when you earn above a specific income threshold.
FAQs on Student Loans in South Africa
1. Can I apply for a student loan without a parent or guardian?
For government loans like NSFAS, yes. But most banks require a financially responsible co-signer, especially for students without an income.
2. Is NSFAS a loan or a bursary?
NSFAS starts as a loan, but it converts to a bursary if you meet academic performance requirements. This means you may not have to pay it back.
3. What is the interest rate on student loans?
Private banks offer competitive rates between 5% and 12%, depending on the applicant's credit profile. NSFAS charges a much lower interest rate, usually linked to inflation.
4. What happens if I fail my courses?
If you’re funded by NSFAS and fail, your loan won’t convert into a bursary, and you’ll need to repay the full amount. Banks may continue charging interest, and your co-signer may be held liable.
5. Can I use a student loan to pay for accommodation and laptops?
Yes. Both NSFAS and many bank student loans cover costs beyond tuition, including housing, meals, textbooks, and electronic devices like laptops or tablets.
Final Thoughts
Student loans in South Africa offer a much-needed financial lifeline to thousands of students every year. Whether you're applying through **NSFAS** or a private bank, ensure you understand the **terms, interest rates, and repayment conditions** before signing any agreement. Make informed decisions today to secure your academic and financial future tomorrow.