The Minister of Finance, Mr. Enoch Godongwana, and National Treasury executives briefed the media following the gazetting of the Preferential Procurement Regulations 2022. The new Preferential Procurement Regulations 2022 were gazetted on 4 November 2022. The Regulations were developed in view of the Constitutional Court judgment of February 2022 on the 2017 Preferential Procurement Regulations and after consulting stakeholders and considering public submissions on draft regulations published for comment on 10 March 2022.
The new preferential procurement regulation will come into effect in January next year and will no longer disqualify 100 percent white-owned companies from tendering for government jobs.
This is good news for all businesses, especially small businesses, who will have an equal opportunity to do business with the government
Watch the media briefing via #SABCNews:
https://buff.ly/3VH1K1Y
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