The South African Construction industry was badly affected by the COVID-19 pandemic. Many employees and workers lost their jobs. However, the difficult times may not last for too long as the future for the South African construction industry looks quite promising.
The economy is slowly getting back up on its feet again. The South African Government is gradually becoming active in reviving the infrastructure of the country. It is implementing the 10-year infrastructure investment plan for various sectors. Banks are also extending their financial support to places in need.
The Economic Reconstruction and Recovery Plan will prevent South Africa from remaining in the dark about its future. South Africa can put itself back on the road to economic recovery. It is essential to take on projects strategically and make the best of these opportunities for effective revival.
The Role of Industry Stakeholders
This has undoubtedly been a short period of massive change for South Africa and many other countries affected by the outbreak of the COVID-19 virus. The success now lies in how South Africa responds to this change.
If there are proper partnerships among the key industry stakeholders and a good network of support where common interests take precedence over self-interest, then revival is sure to take place.
One hopes this will be the trend as there are so very few projects to now be shared among many construction companies. It will be a very competitive climate and with plenty of disruptions if the South African Government doesn’t employ a strategic approach.
Many major South African construction companies took a severe hit during the pandemic. And now, with recovery in sight, it is a great moment of opportunity for small construction companies to rise to the top and help in the revival of the economy.
South Africa is likely to feel the effects of the pandemic for a good time. However, the outlook is overall positive as we can see many more jobs coming in the future. Although the costs of material were quite high during the pandemic, these costs are likely to lessen.
We see many industrial changes as well. For instance, there is more automation of various industrial processes as the industries suffered labor shortages due to lockdowns and strict social distancing and safety guidelines. Complete automation is not likely to happen.
However, the key industry players are now thinking of new and creative ways to meet the challenges. The construction industry is using environmentally friendly and sustainable materials such as self-healing concrete and modular components to cut down on the costs and increase the pace at which the projects will be completed. New software and construction methods are also being used.
South Africa needs the construction industry now more than ever. It needs more road projects, residential projects and infrastructure construction. Hence, it is safe to assume that the South African construction industry is sure to have a bright future.