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• Create Date November 22, 2024
• Last Updated November 22, 2024

Pulse - October 2024 Public Sector Building Tender: Troubling Declines with Regional Bright Spots

South Africa’s public sector tender values continued to plummet in October 2024, dropping 73% year-on-year, reflecting persistent declines since the May 2024 elections. Year-to-date tender values fell 29% year-on-year to R13.8 billion, a stark contrast to the 23% growth seen in 2023. Despite this national downturn, provinces like Gauteng, North West, and Western Cape bucked the trend with notable increases in tender values and infrastructure expenditure. Economic fundamentals such as lower interest rates, easing inflation, and improved credit ratings signal potential recovery, but inefficiencies in budget utilization and systemic challenges hinder progress. The government’s ability to manage fiscal constraints and unlock infrastructure investments will determine the outlook for the construction sector.

 

Donwload the latest Provincial Update as October 2024 

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