Mace’s latest Market View for Sub-Saharan Africa (SSA) reports that construction activity is forecast to grow across the region, despite a number of significant risk factors that threaten to limit economic growth in the region.
It is nearly universally accepted that good infrastructure has significant benefits for the economy and peoples’ quality of life. Kenya currently has a predicted annual infrastructure spend of US$6.5bn a year by 2030.
Mace has released its latest tender cost update for Sub-Saharan Africa, showing mixed performances for the region’s two most prominent economies.
East African governments and Kenya in particular, are now focused on infrastructure delivery and ways to close the most important infrastructure gaps in planning for new cities.
The World Bank estimates that the cost of bridging the infrastructure gap in Africa requires an annual expenditure of USD 93bn, or less than 5% of the total GDP of the continent.
Toshiba Corporation says that the Olkaria Geothermal Power Plant, Kenya’s geothermal power complex, has started commercial operation.
Having highlighted Africa as a primary focus, the Royal Institution of Chartered Surveyors’ (RICS) global President Elect, Louise Brooke-Smith is currently visiting South Africa (February 2014) and Ghana.