10 June 2026

Windhoek | As part of its ongoing stakeholder engagement programme, the CPBN management today held a strategic engagement with Bank Windhoek to gain a deeper understanding of the bank’s processes, requirements, and service offerings relating to the issuance of performance guarantees for successful bidders in public procurement.

Led by Chief Executive Officer Mr. Idi Itope, the CPBN delegation met with Bank Windhoek representatives to discuss the procedures involved in obtaining performance guarantees, including application requirements, assessment processes, turnaround times, and factors that influence the successful issuance of these instruments.

The engagement provided valuable insights into Bank Windhoek’s performance guarantee products and services, enabling CPBN to better understand the practical considerations faced by bidders when securing the guarantees required for the award and implementation of procurement contracts.

The discussions also explored opportunities for collaboration between the two institutions to enhance awareness among bidders, streamline processes where possible, and identify practical solutions that support the timely issuance of performance guarantees. Such efforts are critical in facilitating the efficient implementation of procurement contracts and contributing to improved public service delivery.

CPBN values its partnership with Bank Windhoek and remains committed to engaging key stakeholders to strengthen the public procurement ecosystem and improve outcomes for all parties involved.

In terms of Section 55(6) of the Public Procurement Act, 2015 (Act No. 15 of 2015), successful bidders are required to provide performance security before procurement contracts can be signed. These guarantees play a critical role in mitigating risks associated with non-performance and safeguarding public resources.