The Procurement function in Sasria aims to support business in achieving its mandate of providing special risk cover to all individuals and businesses that own assets in South Africa as well as government entities, through a fair and equitable procurement process.

We aim to maintain effective engagements with both our internal clients and our suppliers. We believe in continuous improvement as we constantly seek ways of optimising our people, processes and systems.

Legislative and Regulatory Framework

Sasria’s Procurement processes are regulated by the duly approved Procurement Policy, which is informed by the legislation, regulations and directives, but not limited to the following:

• The Constitution of the Republic of South Africa,
• Public Finance Management Act, Act No. 1 of 1999 (“PFMA”).
• Treasury Regulations,
• Broad-Based Black Economic Empowerment Act, Act No. 53 of 2003 (B-BBEE Act) and its Codes of Good Practice as amended.
• Preferential Procurement Policy Framework Act, Act No. 5 of 2000 (“PPPFA”) and its Regulations as amended.
• National Treasury Practice/ Instruction Notes
• Construction Industry Development Board Act, Act No. 38 of 2000 (“CIDB”) and its Regulations as amended.

Transformation

Sasria uses procurement to contribute towards the achievement of transformation and empowerment goals as set out in relevant government legislation, Sasria Procurement Policy and Sasria strategic objectives, as follows:

• Preferential Procurement: Sasria has developed measures to increase spend with B-BBEE compliant suppliers with specific focus on suppliers that are owned by Black people and Designated Groups. Thus far, Sasria has already adopted a position that Sasria will only procure goods and services from suppliers with a minimum B-BBEE contributor status of Level 4, where practical.
• Supplier Development: Sasria has established Supplier Development Program in line with the B-BBEE Act and its codes. The focus of the program is to support our current suppliers which are qualifying beneficiaries in terms of BEE Codes of Good Practice.
• Enterprise Development: Sasria has established Enterprise Development Program in line with the B-BBEE Act and its codes. The focus of the program will is to contribute to the transformation of the insurance industry and the financial sector at large.