In addition, work has started for modernization of the retail payments and settlement system which will encourage electronic and mobile phone based transactions, while taking due consideration of privacy and security matters and the development of an appropriate legal framework. b)  Credit Information Bureau: The SBP’s electronic Credit Information Bureau (eCIB) has already helped credit risk management in all financial institutions.
It is envisaged that the public will eventually be able to see all tenders, bidders and their prices quoted, as well as minutes of bid committee meetings. Over and above the e-portal, a national database of all approved and compliant suppliers and an “online shop”, where government departments will place orders of less than R500 000, will be established.