Construction 2022: Banking on Infrastructure
South Africa’s construction industry, a key employment multiplier and socioeconomic development driver, continues to be challenged by a persistently sluggish economy, disruption at construction sites, corruption and the Covid-19 pandemic, besides other issues.
The fragile sector is, however, being most weakened by the continuing lack of implementation of the infrastructure delivery plan by government, compounded by the lack of demand for retail, commercial and residential buildings from the private sector.
Further, owing to South Africa’s poor economic state and the consequences of the pandemic, significant projects have been cancelled or delayed over the past two years.
Nonetheless, growth prospects for the South African construction industry in the medium to longer term look to be positive. While the impact of Covid-19 has been severe, the effects will eventually be worked out of the system, a Research and Markets report, ‘Trends in the South African Construction Industry 2021’, published in November 2021, contends.
However, for South Africa to achieve its infrastructure goals it will be crucial for the public and private sectors to work much closer together than they have in the past.
In this context, Creamer Media’s ‘Construction 2022: Banking on Infrastructure’ report examines South Africa’s construction industry, its key participants, its proposed infrastructure-based economic recovery and the impact of corruption on the sector.
This report is a summary of information published in Engineering News and Mining Weekly, as well as of information available in the public domain over the past 12 months. The report does not purport to provide analysis of market trends.
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