National Treasury Seeks Structured Debt Advisor for Retail Bonds Overhaul

The National Treasury of South Africa has officially opened the bidding process for the appointment of a qualified and experienced Structured Debt Advisor, marking a significant step in its digital transformation agenda. The successful bidder will be tasked with supporting the comprehensive modernisation of the RSA Retail Bonds Programme, with a focus on structure design and solution architecture.

In a statement released on Monday, the Treasury emphasised the importance of this advisory role in reshaping the bonds programme to better serve South African investors.

“The selected advisor will provide expert support in evaluating and recommending a structure design and solution architecture to strengthen and modernise the RSA Retail Bonds Programme,” the department stated.

This initiative aligns with the Treasury’s broader efforts to foster innovation and inclusivity in public financial instruments. Through the digitisation and modernisation of the RSA Retail Bonds offering, the Treasury aims to make government-backed investment products more accessible, transparent, and responsive to the needs of ordinary South Africans.

Goals of the RSA Retail Bonds Modernisation

Introduced in 2004, the RSA Retail Bonds programme was designed to allow South African citizens to invest in government bonds in a simple, safe, and cost-effective way. While the programme has seen considerable uptake over the years, the need for digital enhancements and improved service architecture has become apparent.

The new project aims to:

• Modernise digital platforms supporting bond purchases and account management.

• Enhance security and improve investor data protection.

• Design new investment structures that align with market trends and investor expectations.

• Encourage broader participation, especially among younger and tech-savvy demographics.

• Strengthen public trust by maintaining high levels of transparency and governance.

Key Requirements for Bidders

Prospective bidders are required to meet several stringent eligibility criteria to be considered for the tender. These include:

• Registration and compliance on the Central Supplier Database (CSD): Only bidders who are registered and in good standing on the CSD will be considered.

• Completion of prescribed documentation: All proposal submissions must conform to the formats and requirements outlined in the official tender documentation.

• Electronic submission via the e-Tender Portal: Proposals must be uploaded through the National Treasury’s official e-Tender platform at https://www.etenders.gov.za.

The deadline for proposal submissions is 13 June 2025 at 11:00 AM, and no late submissions will be accepted under any circumstances. The Treasury has also made it clear that queries must be directed in writing to the following email address: NTAdministrativeTenders@Treasury.gov.za.

Advisory Role: Strategic and Technical Support

The Structured Debt Advisor will be responsible not only for recommending optimal bond structures but also for providing technical insights that will guide system design, financial modelling, and regulatory alignment. This includes:

• Assessment of current RSA Retail Bond mechanisms.

• Evaluation of global best practices for retail bond issuance and management.

• Development of a roadmap for implementation of new structures.

• Engagement with financial market stakeholders to ensure that proposed solutions are viable and well-received.

By integrating technical debt expertise with a vision for innovation, the Treasury expects to future-proof the RSA Retail Bonds Programme while encouraging more South Africans to participate in national development through secure investment.

Strengthening Investor Confidence

The modernised programme is expected to increase investor confidence by offering improved digital experiences and clear communication of bond features, risks, and returns. With interest in fixed-income products rising in a climate of market volatility, the timing of this transformation is particularly relevant.

The Treasury also hopes the restructured bonds will offer competitive, market-related returns and attract investors who may be looking for alternatives to traditional savings accounts and investment vehicles.

Public Access to Information

To ensure transparency, the Treasury has made the official Terms of Reference (TOR) and all supporting documents available for download on the e-Tender Portal. Interested bidders are encouraged to review the TOR in detail and begin preparing their submissions promptly.

The project represents a strategic opportunity for experienced financial advisors to contribute to a high-impact national initiative while shaping the future of public investment in South Africa.