First National Bank
(FNB) has been appointed as the Municipality’s new banking partner, effective
from 1 October 2025.
In accordance with the regulations set out by the Minister of Finance, the Municipality’s banking contract is reviewed and subject to change every five years through a public tender process. With the current contract expiring on 30 September 2025, the Municipality concludes a successful 10 year partnership – two full terms – with Nedbank.
Following the public
tender process, which was open to financial institutions registered under the
Banking Act, FNB emerged as the successful bidder, offering the most competitive
and cost-effective proposal.
As the Municipality’s
new banking partner, FNB will provide a comprehensive range of services
including:
• A user-friendly
banking system
• Competitive bank
charges and commissions
• A real-time,
dedicated support team
• Bulk cash handling
facilities
• Speed point terminal
services
• Internet and
electronic banking solutions
• Bank guarantees and
overdraft facilities
• Defined overdraft
facilities
• Electronic foreign
exchange payment capabilities
• Market agency
services
‘’We are excited to welcome FNB as our banking partner and look forward
to a productive and value-driven partnership,’’ said eThekwini City Manager,
Musa Mbhele.
FNB’s Provincial Head – Commercial Public Sector, Annie Spangenberg,
said the institution is delighted to partner with eThekwini.
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