Africa Construction

Since it has traditionally had a limited real estate market, few developers, residents or investors up to now have viewed housing in Ghana as a worthy asset. However, with the start of oil production in late 2010 and bold plans for gas-fed industrial growth and diversification, things may be beginning to move in the sector.

Buoyed by first oil lift in late 2010, the government has placed infrastructure development at the centre of its strategy for economic growth and job creation. Although the funding for infrastructure projects remains a key concern, its central position in government plans bodes well for Ghana’s contracting and engineering firms.

When the Diamond Cement plant in Aflao on Ghana’s eastern border was struck by lightning in April 2012, few could have predicted the extent of its impact on Ghana’s construction market. The nearly month-long shutdown that followed led to cement price increases of as much as 85% and industry layoffs by contractors struggling to cope. Although...

Although the country has avoided the worst aspects of the global downturn, business confidence has been hit and many of the key indicators for business growth and subsequent office demand do not look promising.

Infrastructure development has been placed at the heart of South Africa’s new economic transformation plan. For the National Planning Commission, it is seen as a silver bullet that will get the economy moving once again and create jobs in a country that historically suffers from chronic unemployment. However, the response thus far has been muted. It...

After several years of successive growth, South Africa’s real estate sector felt the full force of the global economic crisis in 2008. The industry has been no more able to avoid the economic shockwaves than its counterparts around the world. Although the 2010 FIFA World Cup offered some respite, 2011 has seen a downturn and little appetite among...