Products & Services Bureau Ltd (PSB) has launched a digital platform called Tenderite to combat corruption and fraudulent practices in institutions.
- Tenderite is described as a corruption vaccine by PSB Founder and Executive Chairperson, William Sichinga.
- The platform allows institutions to source and evaluate quotations and bids online, reducing human influence in procurement decision-making.
- Tenderite aims to control and stabilize prices of goods and services by supporting ethical firms and protecting consumers from predatory executive managers.
- Shareholders are encouraged to invest in Malawi with confidence that their money will not go into corrupt individuals’ pockets.
- Corruption in private institutions leads to overpricing and burdens consumers, while corruption in public institutions compromises the quantity and quality of services.
- Over 150 institutions in Malawi are currently using Tenderite, and Reunion Insurance Company Ltd was recognized as the 2022 Tenderite institution of integrity.