The construction industry in South Africa has expressed concern over financial uncertainty amid lockdown regulations.
The construction industry contracted by 30% during the second quarter of 2020 – after the country went into a hard lockdown to help slow the spread of the coronavirus (COVID-19).
Chief Executive of the National Construction Incubator, Patricia Chalwa says, “Things are not looking good, particularly there is a study that shows that there is going to be some kind of growth within the construction space, but the reality is that even if there was even 1% of that growth between 2021-2024 within the construction space, those are just figures being thrown out there. The reality is that for this year, we need to focus on sustaining what we have and the current levels of economic activity in the construction industry. It is tough.”