Author of the Afrimat construction index says bias towards labour-intensive activities bodes well for the sectorThe Afrimat quarry in Greenbushes, Port Elizabeth Picture: DARYN WOOD
“Construction remains the most labour-intensive sector of the SA economy and stands to gain from pragmatic and focused growth policies, such as resuscitating the RDP housing scheme,” Botha said. “The expansion of infrastructure in SA has become critically important, a fact that has been acknowledged by President Cyril Ramaphosa and finance minister Tito Mboweni. The construction sector stands to gain from ... raising the country’s economic growth rate,” said Botha.
According to Botha, a “more accommodating stance” by the SA Reserve Bank is necessary for the recovery of the construction industry. “Despite the recent lowering of the repo rate by 25 basis points, SA’s real central bank repurchase rate remains between 100 and 400 basis points higher than most of its key trading partners and emerging-market peers,” he said.
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