Construction industry to remain in recovery despite forecasted growth

ABSTRACT

AFRICAN DEVELOPMENT The construction industry is expected to grow by 6.2% this year, but will remain in a recovery phase after experiencing a near recession that was exacerbated by Covid-19 and the associated hard lockdown. This will have a positive impact on employment, while contributing to improved sentiment towards the economy, said GVK-Siya Zama CFO John de Sousa. Contributing towards this forecast has been improved sentiment in the market, largely due to the government's recent emphasis on growing public-private partnerships and increasing infrastructure spend. However this does not guarantee a "immediate recovery" in the domestic construction market as the Covid-19 pandemic starts to ease or in response to government's positive news for the industry, GVK-Siya Zama CFO John de Sousa said