The South African Institute of Valuers (SAIV) has welcomed the State of the Nation Address (SONA) by President Cyril Ramaphosa on Thursday, 11 February.
In his State of the Nation Address (SONA 2021), President Cyril Ramaphosa announced that the R100 billion Infrastructure Fund is now in full operation.
President Cyril Ramaphosa has highlighted preparation - through the Infrastructure South Africa (ISA) project preparation roundtable - as the key to unlock South Africa’s post COVID-19 economic recovery.
Government will in the coming months expedite the implementation of at least 50 infrastructure projects with a total investment value of more than R340 billion.
Failure by construction industry players to comply with Covid-19 hygiene regulations and protocols could lead to site shutdowns which the industry can ill afford, says Databuild CEO Morag Evans, given that it was already in a severe slump prior to the outbreak of the pandemic.
The Master Builders Association (MBA) North has broadly welcomed President Ramaphosa’s vision of massive infrastructure spending as the “flywheel” of South Africa’s recovery from the COVID-19 crisis.
Reports of the demise of the construction industry in South Africa are greatly exaggerated, says construction giant Grinaker-LTA.
The sudden announcement of the lockdown by President Ramaphosa understandably raised serious and immediate concerns in the building industry.
A growing trust deficit between the government and the private sector threatens to derail efforts to turn around the struggling construction sector, but government is intensifying its efforts to build meaningful relationships with the industry.