EKN GROUP RESEARCH

EKN GROUP RESEARCH. Group 4- Construction.

Economic background. Chart, line chart Description automatically generated.

Economic background. Chart Description automatically generated.

Economic background.

Economic background.

Economic background. Population (Thousands) 3 QI-2008 Q2-2008 Q3-2008 Q4-2008 QI-2009 Q2-2009 Q3-2009 Q4-2009 QI-2010 Q2-2010 Q3-2010 Q4-2010 QI-2011 Q2-2011 Q3-2011 Q4-2011 QI-2012 Q2-2012 cu-2012 Q4-2012 QI-2013 Q2-2013 Q3-2013 Q4-2013 QI-2014 Q2-2014 Q3-2014 Qa-2014 QI-2015 Q2-2015 Q3-2015 Q4-2015 QI-2016 Q2-2016 Q3-2016 Q4-2016 QI-2017 Q2-2017 Q3-2017 Q4-2017 QI-2018 Q2-2018 Q3-2018 Q4-2018 QI-2019 Q2-2019 Q3-2019 Q4-2019 QI-2020 Q2-2020 Q3-2020 Q4-2020 QI-2021 Q2-2021 3 3.

Sector-specific indicators.

Sector-specific indicators.

Sector-specific indicators.

The effect of Covid-19 and the recent civil unrest on the sector.

The effect of Covid-19 and the recent civil unrest on the sector.

NDP Strategies and Objectives for Construction. Funding into the construction sector The construction of tertiary educational facilities Construction of housing Combine manufacturing with the construction industry Gaining investments into infrastructure Promotion of smaller scale construction Partnerships between construction firms and South African banks Creation of job opportunities in government construction Construction of road and transport infrastructure Construction of educational facilities.

Funding into the construction sector In 2020 the industry shrank by more than 20% . Forecasts predict a 6,2% growth in the sector for 2021. For the next 4 years an average growth of 3,4% is expected. (Wood, 2021) The construction of tertiary educational facilities Here we aim to break the cycle of poverty by starting with better access to proper educational facilities. Construction of housing Housing construction can play a very important role in growing the South African economy. And improving the quality of lives of 65% of South Africans who live in sub-standard housing. (Akinnusi, 2020).

Combine manufacturing with the construction industry Increased job opportunities with locally manufactured products used in construction. Gaining investments into infrastructure Infrastructure investment drive to fund smart infrastructure impacting on the construction sector. Promotion of smaller scale construction Having a steady outlook for interest-rate changes may contribute to smaller scale construction in the residential market. Partnerships between construction firms and South African banks Funding is an integral part of the success of all these projects..

Creation of job opportunities in government construction Youth employment in construction projects serving the poor public. Construction of road and transport infrastructure Job creation in the construction sector will pave the way for upgrading transport infrastructure and simultaneously employing the poor. Construction of educational facilities Starting with basic educational facilities, this will lead to a higher educated youth and more skilled workforce..

MAURITIUS. The construction industry in Mauritius has a major impact on economic growth : 22% industry’s employees are of the country’s total workforce In addition, Mauritius saw its construction industry grow by 567.7% compared to 0.6% growth from the previous year (Statistics Mauritius, 2021). A significant amount of fiscal support was forecasted for various construction projects in order to improve and strengthen the construction industry and boost the the Mauritian economy..

NEW ZEALAND. New Zealand’s Construction sector is one of the main contributors to its GDP and seen as the most promising sector even with the involvement of Covid-19. However, it still has challenges to face such as: Shortages in skilled workforce and building material Overly expensive housing market Need for earthquake strengthening and resilience.

BRAZIL. Significant decrease to the contribution of the construction sector to Brazil’s GDP between the year 2013 to 2019. 2019, signs of recovery in the construction sector began to show, and one of the reasons for this was due to an increase in investor confidence. About 60 thousand new construction jobs were able to be created in the year 2020..

CONCLUSION. Although the construction sector does not contribute much to the GDP, it can be used to help solve the unemployment issue South Africa currently has. It does not have a big barrier of entry for the unemployed as even the inexperienced and unskilled can find a job in this sector. One of the biggest problems the construction sector faces is funding, and this can be solved through increasing transparency on the usage of funds by forming alliances between the government and private sectors, just like Brazil and New Zealand have. If the NDP strategies placed for construction are executed well in the coming years, South Africa’s socio-economic situation will improve significantly.