The cidb was established to provide leadership to stakeholders and to stimulate sustainable growth, reform and improvement of the construction sector for effective delivery and the industry’s enhanced role in country’s economy.
Change of Requirements for Submission of Financial Statements by Contractors
Effective 1 July 2015 the cidb will only accept financial statements compiled by the accounting officer or auditor that appears on the contractor’s cidb application form. Contractors are accordingly advised to ensure that they reflect the correct accounting officer or auditor who will be compiling their financial statements when they apply for new registration, 3 year renewal and for upgrades. Should a contractor need to change accounting officers or auditors, a letter written on the contractor’s letterhead must be submitted to the cidb stating the change as well as particulars of the new and old accounting officers The letter submitted must not be older than three months.
Proposed Measures to Curb Delayed Payments Published
Minister Thulas Nxesi of the Department Public Works has published proposed new measures to facilitate prompt payment of suppliers and contractors in the construction sector. The proposed measures will introduce automatic interest charges on delayed payments as well as the right of parties to refer payment disputes for adjudication. Comments are invited from interested parties. Click here to view Government Gazette 38822 of 29 May, 2015.
cidb Issues Collusion Charges Against Construction Companies
The cidb has charged 15 construction companies of collusive practices and contravention of the Code of Conduct for parties engaged in construction procurement. Though there are additional construction companies implicated in the collusion scandal, so far the cidb’s action is only limited to the 15 that have disclosed their participation in collusion to the Competition Commission. Click here to access the cidb media statement.
cidb Names Inba Thumbiran as Acting CEO
Ms Inba Thumbiran has been named by the Board as Acting Chief Executive Officer of the cidb. This follows departure of former CEO, Mzwandile Sokupa on 27 February, 2015, after a fourteen months stint at the helm of the cidb. Ms Inba Thumbiran has been appointed as interim CEO until further notice.
» Read more news and events