In Q1 2024, GDP fell by 0.1%, with most sectors underperforming except agriculture, which grew by 13.5%. Construction was the hardest hit, declining by 3.1%, followed by mining (-2.3%) and manufacturing (-1.4%). Construction investment dropped significantly, with residential and non-residential investments contracting sharply. Despite challenges, the civil industry showed positive signs with increased project awards…
The Preferred Supplier & Competitor Survey (PSS), a monthly survey pioneered by Industry Insight, is conducted among contractors to determine material suppliers and brands involved in building and civil projects across the country. Most of the projects surveyed during May 2024 were in the road and water sectors, followed by the education sector. Notably, water…
The 2024 elections in South Africa have caused significant shifts in political power, with the ANC losing representation in all provinces and the DA gaining marginal representation in four provinces. The rapid rise of the MK party in Kwazulu Natal, Mpumalanga, and Gauteng introduces uncertainty in infrastructure development for 2024/25. Potential coalition talks and policy…
Mpumalanga and the Northern Cape lead in construction growth, despite slowing pipelines and declining private sector demand, with significant future investments in civil related and renewable energy investment construction, while Gauteng and Western Cape face mixed construction outlooks amid private investment declines. Read the full report here
In the first quarter of 2024, South Africa’s unemployment rate increased to 32.9 percent, with the construction sector seeing a significant downturn. The labor force in construction dropped by 8 percent from the previous quarter, resulting in an annual growth of only 1.2 percent. Limpopo experienced the most severe job losses, with 57,000 positions lost,…
Actual expenditure by provinces on buildings and other fixed structures increased by a nominal 2.1 percent y-y in the 1st quarter of 2024 (last quarter of the 2023/24 financial year) compared to the same period in 2023. According to Treasury provinces spent R27.6bn on buildings and other fixed structures (without providing a breakdown of these…
A range of infrastructure and development projects across South Africa aimed at enhancing service delivery and economic growth were announced during April 2024. The City of Cape Town is building a 7 MW solar power plant and investing R4 billion in electrical grid upgrades. Transnet is seeking partners for the Cape Town Port and developing…
In January 2024, building approvals nationally declined for the 7th straight month, with a 13% decrease year-on-year. Free State saw a significant increase, while other regions like Limpopo and Kwazulu Natal showed modest improvements. However, overall national trends indicate a challenging start to the year, with lower approval rates compared to the previous year. Gauteng…
Mining production of building materials experienced a difficult 2023, with production down 6 percent in 2023. The rate of decline accelerated during the 2nd half of 2023, and this momentum was carried through to January 2024, with production down 10.6 percent y-y (not seasonally adjusted). By comparison mining production (excluding gold), although also performing poorly,…
In February 2024, South Africa witnessed pivotal events such as the State of the Nation Address (SONA) and the National Budget Speech, shedding light on the nation’s economic challenges. The SONA, usually a platform for showcasing achievements, appeared more geared towards election campaigning this time. Conversely, the Budget Speech delved deep into governmental finances, revealing…
The total number square metres approved by local government…
R35bn Transnet Push and R8.1bn Metro Funding Put Infrastructure…
