In June 2024, tender values for civil projects declined by 32% year-on-year (y-o-y), with decreases observed in most provinces except North West and Northern Cape. The Western Cape experienced the most significant drop, with tender values falling by R16 billion compared to June 2023. The value of road project tenders decreased by 38% y-o-y, and water project tenders fell by 17%. However, due to a strong performance in April 2024, the overall tender values for the second quarter of 2024 increased by 6% y-o-y. Mpumalanga and KwaZulu-Natal recorded notable increases, while the Western Cape recorded a 45% y-o-y decline. For the first six months of 2024, the annual nominal increase in tender values slowed to 5%, reaching R51.5 billion, due to mixed performances across provinces. In real terms, tender values declined by 2% y-o-y. The value of civil projects awarded fell by 14% y-o-y in the first half of 2024, following a strong base compared to the same period in 2023. Road tender values increased by 27%, while water-related construction tenders fell by 8% to R14.2 billion. Despite a slowing in the pace of bridge construction tenders, values are nonetheless still up by 104%.
