Archives February 2022

National Youth Day Promo

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Calling upon all Zimbabwean youths aged 35 and below to come and grab this golden opportunity! From 18-28 February 2021, you will get huge discounts from any of our service offerings. Call us now for more: +263716196475

When is Robert Mugabe National Youth Day?

Robert Gabriel Mugabe National Youth Day is a national holiday in Zimbabwe and is celebrated on February 21st.

This holiday honours, Robert Mugabe who was the first prime minister of Zimbabwe from independence in 1980 until 1987, then the country’s 2nd president from 1978 to 2017.

The focus of the day is increasingly moving away from the late president and is instead focusing on youth. Speaking in 2021, Youth, Arts, Sports and Culture minister Kirsty Coventry, said “The 21st February is a National Youth Day. The day was proclaimed and instituted by the government in 2017 in order for the nation to recognise and celebrate the contributions made by the youth throughout the history of the country as well as for the young people to recognise and emulate the leadership values.” It is against this background that we want youths to lead in formalising their businesses, to lead in being employers of tomorrow that’s why we are giving them massive discounts on company registration. 

History of Robert Mugabe National Youth Day

Robert Mugabe was born on February 21st 1924. He was a school teacher before becoming involved in African nationalist protests calling for independence for Southern Rhodesia from Britain. He was imprisoned from 1964 to 1974 for making anti-government comments. On release, he became the leader of the ZANU Patriotic Front. He took part in the peace negotiations that led to independence and the end of minority white rule.

At the 1980 general election, Mugabe led the ZANU-PF to victory, becoming Zimbabwe’s first Prime Minister from 1980 – 1987. In 1987, he became President, only stepping down in 2017 after a military intervention and mass demonstrations.

Mugabe died on September 6th 2019 at the age of 95.

The Robert Gabriel Mugabe National Youth Day was first proposed and accepted in August 2017 after intense lobbying by the ZANU-PF Youth League.

The 21st February Movement was formed in 1986, by the ZANU-PF Youth League, to commemorate the principles and ideals that former president Mugabe stood for.

It was officially declared as a public holiday on the inauguration of President Emmerson Mnangagwa on November 27th 2017. On announcing the holiday, President Mnangagwa said the former president needed to be given the respect and recognition he deserved as one of the founders and leaders of Zimbabwe. “To me personally, he remains a father, mentor, comrade-in-arms and my leader,” he said.

May all those below the age of 35years engage us and get a lucrative percentage from any of the services we offer. 

How to apply and win tenders in Zimbabwe this 2024

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INTRODUCTION

How to apply and win tenders in Zimbabwe this 2024

Here is a step to step guide on how to apply and win tenders in Zimbabwe this 2024. This is what they will not teach you in college or any school of business. To apply and win tenders, just make sure: you have a registered company, a valid Tax Clearance Certificate, PRAZ certificate, NSSA certificate, a vendor number, a detailed company profile, signed recommendation letters and follow the few other tricks that we’ll layout in this guide. Applying and winning tenders is as easy as copy and paste.

What is a tender?

In the first place, you may wanna know what a tender is? In simple terms, a tender is a formal request by a certain company to get a specific supplier to carry out a specific task or deliver certain goods , at a stated place and within a specific time frame. Please take the word specific time frame religiously! Most companies do not win tenders simply because they do not state their delivery period. Go through this document so you can learn how to apply and win tenders in Zimbabwe.

How much can I get from a tender?

By no doubt, a tender means big money! Whilst there is no specific amount of how much you can earn from winning a tender, be guided accordingly by these minimum thresholds:

(i) Goods- USD 10 000 or equivalent at bank rate.

(ii) Services – USD 5 000 or equivalent at bank rate.

(iii) Works (such as renovations, construction) USD 20 000 or equivalent at bank rate.

This is in accordance with the Procurement Regulatory Authority of Zimbabwe (PRAZ). The amount you can get if you apply and win a tender differs. Some tenders may give you upto USD 100m. At some point, you can win a tender for supplying say stationery or toiletries for the whole year. Imagine supplying toiletries to Zimbabwe Electrical Supply Authority (ZESA) or supplying stationery to NetOne. Winning a tender means big money!

Where to get tenders?

Approximately, hundreds and hundreds of tenders are being flighted on the local press. Most of them are flighted in the Sunday Mail, Thursday Herald or Financial Gazette. Those willing to apply for government tenders, you can check the Government Gazette as well. Due to technological advancements, you can also get tenders from corporate websites, other tender-listing websites like: www.tendernoticeboard.co.zw or https://tendertube.co.zw/ etc. To check tenders on a company website, just type the name of the company + tenders. Example: Zinara Tenders or POSB tenders. Other companies are just putting a very short advert in the press and share a link to their website for full details.

POSB Tenders

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STEPS TO WIN A TENDER

What are the steps in applying for a Tender?

To apply and win tenders, you have to:

(i) thoroughly read the tender and see if it’s applicable to your line of speciality. Some tenders maybe marked as domestic tenders and that means the tender is open to the residents of that specific region only. For example, Buhera Rural District council can flight a domestic tender that is limited to Manicaland Province companies only.

(ii) check if the tender is still valid and whether you can or cannot meet the delivery period. If you come across a tender with a tight deadline that you cannot meet, you better leave it. We however advise you to try all the possible means to increase your workforce, capital or any other economic resource in the short run so you can deliver.

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INTRODUCTION

Documents required to apply and win tenders.

Here is a list of the documents that will be required when applying for a tender in 2024. Note that this list shares the common documents that are requested. At some point in time, there may be extra documents required or some documents we have listed below may not be required.

1. Company registration documents

These documents are a prerequisite when applying for a tender. They include Certificate of Incorporation, CR 5, CR 6, Memorandum and Articles of Association. Companies that were registered before February 2020 may show CR 6 and CR 14 instead of CR 5 and CR 6 respectively. Of you do not have Company Registration documents, please get in touch with us :+263716196475 | +263777069078. Check more about why you must register a company here… We advise you to make sure that all shareholders and directors’ details are upto date. Should you need any changes to your company registration documents, please get in touch as well.

2.Tax Clearance Certificate

This is another prerequisite when applying for tenders. A tax clearance certificate shows that you are paying your taxes to the government. If you don’t have a Tax Clearance Certificate, it means you will lose 30% of your earnings as Withholding tax by the government. Example, you wanna sign a deal of 100 000 but you do not have a Tax Clearance Certificate, it means you’ll lose $30 000. In most instances, you’ll lose the deal entirely of you do not have a tax clearance certificate. If you do not have a tax clearance certificate, please get in touch with us so we can process one for you. Remember to check our document on how to obtain a Tax Clearance Certificate in Zimbabwe…

3.Business bank account

This is where your funds will be deposited once you win the tender. At no point in time will a tender be awarded to a company without a bank account. Check out how you can open a corporate bank account in Zimbabwe here. Make sure you type the correct account number and branch codes when applying for a tender. Mistakes are costly. Do things right at the first time.

4. PRAZ Registration.

The Procurement Regulatory Authority of Zimbabwe (PRAZ) is the arm of the government that governs how tenders are flighted, selection process etc. When applying for government tenders, PRAZ Registration is a prerequisite. Register for PRAZ here…

5. Vendor Number

If you want to apply and win tenders from the government, you are obliged to have a vendor number. You maybe wondering what a vendor number is? It’s a unique code, usually 5-digits that you’re assigned by the Ministry of Treasury. It’s use of for you to get paid by the Ministry of Finance whenever you have supplied something to the ministry. We covered the vendor number application process on this blog.

6. Detailed company profile.

A detailed company profile helps you stand out from the crowd! Make sure you keep your Company profile updated to reflect the requirements of the specific tender.There is no one size fits all in business. What must be included in the company profile: Company name, physical address, phone numbers, email address, list if products and services on offer, key projects you have done, details of key personnel and their qualifications, payment details (bank account, branch code etc). Make sure you document whatever is necessary as per tender requirements. The art of winning tenders is by following instructions like you’re carrying arm orders. In case your company profile is not updated, get in touch with City Cloud Private Limited. They’re the best web and graphic designing agency we have dealt with so far.

7. Trade references.

From our experience, to apply and win tenders, you must have trade references that are signed and stamped. Trade references serve the purpose of making sure you have supplied the same items before. They help you become more authentic and increase your chances of winning the tender. Make sure the contacts on your trade references are reachable.

8.NSSA Certificate:

A NSSA Clearance Certificate is a certificate issued by the National Social Security Authority [NSSA] to registered employers liable for NSSA contributions, under any of the Acts administered by the National Social Security Authority. The certificate is issued upon request from employers whose contribution accounts are up-to-date or has made alternative debt settlement arrangement with NSSA.

 What are the benefits of NSSA Clearance Certificate?

NSSA Clearance Certificate is required when bidding for tenders.

It acts as an assurance that, the trading partner’s employees are adequately covered by social security schemes as enshrined under Section 12 of the Accident Prevention & Workers’ Compensation Scheme SI 68 of 1990.

A NSSA Clearance Certificate is a pre-requisite when applying for licences issued by local authorities.

Business counterparts have confidence in doing business with companies who are compliant to statutory obligations

What is required to obtain a NSSA Clearance Certificate?

The Employer’s account must be up-to-date in terms of contributions & premiums.

Employers with outstanding legacy debt, must make alternative debt settlement arrangement, approved by NSSA.

The Employer must furnish all statutory returns particularly P4 return or make satisfactory arrangements with NSSA for the furnishing of such returns.

Contact our team if you need assistance with NSSA Certificate: +263716196475 | +263777069078

9.Bid Security

It is also known as a bid bond. This is a refundable fee that you pay as a security. This is done to avoid suppliers who win tenders and fail to deliver.The bid security shall be payable through the below options:

First Option…………. A certified bank cheque; or

Second Option………A bank guarantee from a commercial bank;

Third Option…………A cash deposit to the Procurement Regulatory Authority of Zimbabwe (PRAZ) – If the third option is chosen, bidders must also submit proof of payment of non-refundable Bid Bond Establishment fees in terms of the section 90 part IV of the S. I 5 of 2018. The amount payable to PRAZ as non- refundable cash bid bond establishment differs. Any bid not accompanied by a Bid Security where this is a requirement of bidding, will be rejected by

the Procuring Entity as non-responsive.

10.Declaration of corrupt practises.

Most companies now require you to declare that you have not been involved in any corrupt activities and you’ll not even do so. A sample of a declaration of corrupt activities takes this form:

We at [your company name] do hereby declare that we do not egage in any corrupt activities.

Signed: [Company secretary or any other signatory]

Please note that most companies take the declaration of corrupt activities seriously and failure to declare that you’re corrupt means automatic disqualification. Make it a habit to include this even if it’s not mandatory.

The Government of Zimbabwe requires that Procuring Entities, as well as Bidders and Contractors,

observe the highest standard of ethics during the procurement and execution of contracts. In pursuit

of this policy: the Procuring Entity will reject a recommendation for award if it determines that the Bidder

recommended for award has, directly or through an agent, engaged in corrupt, fraudulent,

collusive or coercive practices in competing for the Contract or been declared ineligible to be

awarded a procurement contract under section 99 of the Act;the Authority may under section 72 (6) of the Act impose the sanctions under section 74 (1) of the Regulations; and any conflict of interest on the part of the Bidder must be declared.

Tender application checklist

Inorder to apply and win tenders, have a checklist so you will not ommit important items. Here is a checklist you can ammend to fit yours:

  1. Company Registration documents.
  2. Tax Clearance Certificate.
  3. PRAZ Registration
  4. NSSA Registration
  5. Vendor Number
  6. Check if you have FULLY signed the Bid Submission Sheet.
  7. Check if you have attached Proof of Payment for a Bid Security Fee.
  8. State bid validity and delivery period.
  9. Recommendation Letters.
  10. Any proof of being a member of a certain professional body.
  11. Detailed Company Profile.
  12. Declaration of corrupt practises.
  13. Business bank account.

Tenders are an opportunity for your company to showcase itself and to demonstrate that you have what it takes to be considered as a potential supplier. It is not easy to win a tender. However, with proper preparation, you can increase your chances of winning.

One of the main reasons why companies lose tenders is that they do not always meet the requirements set out by the client. To make sure that you get shortlisted for the next round, it is important that you understand what the client is looking for. This will help you to complete your proposal in a way that addresses the client’s needs and demonstrates how your company can meet their requirements.

This guide has given you all the steps of writing a successful tender application in 2024 and give you practical tips on how to write a winning proposal.We wish you all the best in your business.

Our contact details: +263716196475 |+263777069078 | info@companyregzim.co.zw

How to open a company bank account with FBC bank

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INTRODUCTION

How to open a company bank account with FBC

Here are the requirements to open a company bank account with FBC.

*Certificate Of incorporation

*Memorandum and Articles of Association

*CR6 form

* CR 14 / CrR5 form 

*Director’s and signatories document*

*Copy of ID / valid passport

* Proof of residence in your name / letter from employer utility bill ZESA ( must be within the last 3 months

* Passport photos x 2

* Constitution( for cooperatives /societies groups n clubs

*Registration certificates ( for cooperative)

*Resolution to open

* Tax Clearance certificates Zimra ( we will give you a bank advice note)

* $20000( corporates) intial deposit $10000 minimum balance $8500

* Service fee $2000 per month

 *All directors are need when signing

The requirements to open a company bank account with FBC are almost the same with opening a company account with the other banks. The only difference lies in that FBC requires a constitution for Cooperatives.

Remember, opening a company bank account is one of the crucial step in formalising your business. Why not get the assistance of qualified professionals to prepare all the required documents for you?

Call or WhatsApp us: +263716196475 | +263777069078 | info@companyregzim.co.zw

How to open a Company bank account with First Capital bank

01


INTRODUCTION

How to open a corporate or company bank account with First Capital bank

Here are requirements to open a company bank account with First Capital Bank

1. Certificate of incorporation – bearing the registrar of companies

2. Memorandum and articles of association –registrar stamp on both copies

3. Company registered address document for registrar-registrar ‘s stamp

4. List of company directors from registrar-must bear the registrar’s stamp –names to agree with

identification documents

5. For a company registered after 15 February 2020 a beneficial ownership declaration form (cr16)

6. current tax clearance certificate from the tax authority

7. identity documents ( valid passport , national id card , driver’s licence) and proof of residential

address( utility bill less than 3 months old ) of all signatories.

8. Identity documents ( valid passport , national id card , driver’s licence ) and proof of a

residential address ( utility bills less than 3 months old ) for all executive directors. For non –

executive directors provide date of birth, place of birth , id number and residential address

9. Identity documents and proof of residence for shareholders with 10% shareholding and above

(i)if corporate body, provide registration number , registered address, registered name and date

of registration (ii) if individual provide ,passport , or id or driver’s licence and residential

address confirmation.

10. Fully completed application form

11. Appointment of bankers

12. Shareholders organogram showing ultimate beneficiary owners – management structure

13. Latest financial statements – #12 months projections ( cash flow statement ,balance sheet and

income statement

14. Company profile

15. Their email address Charles.gadaga@firstcapitalbank.co.zw

Kindly take note that for item #6, Current Tax Clearance Certificate, you have to use a bank advice note which we can issue to you for USD 20. Contact us: +263716196475 or +263777069078 , email address is info@companyregzim.co.zw . For assistance with any other documents and bank account opening, please do not hesitate to contact us.

Requirements to open a corporate bank account with Ecobank in Zimbabwe

BANK OPENING REQUIREMENTS

Here are the requirements to open a corporate bank account with Ecobank in Zimbabwe.

1. Completed account bank opening form

2. Fully signed mandate card

3. Dully signed mandate resolution

4. Memo and articles of association

5. Cr14 and cr6

6. Cr2 or letter confirming shareholding (signed by company secretary and a director)

7. Tax clearance form

8. Vat registration

9. Signatories (a) 1passport size photos(b)certified copies of id(c)proof of residence {not more than

3 months old} foreign nationals to provide extract of passports work permits and residential

permit

10. Certificate of incorporation

11. Directors –(a) certified copies of id (b)proof residence permit

12. Other shareholders (a)certified copies of id (b0 proof of residence(not more than 3 months

old)(c)foreign nationals should provide extract of passport , work permit and residence permit

13. Initial deposit $100

14. Directors don’t need to be physically present as long they provide #11

15. It takes 3 – 5 working days

Should you require assistance with Memorandum and Articles of Association, Tax Clearance Certificate, CR2, VAT reguistration and other services, feel free to reach to us: +263716196475 | +263777069078 | info@companyregzim.co.zw