adminA 2011 review of the industry compiled by the Cifoz shows that the construction sector’s capacity utilisation increased to 33 percent this year from 22 percent last year.
The construction sector is typically a useful barometer for determining underlying business activity in any economy, and official statistics in the 2012 Budget indicate that the sector is expected to grow by 1,5 percent next year.
The construction body attributed the development to the Government’s role in injecting funds for the development of various civil construction project sites across the country.
Several projects, mainly in the road and public housing sectors that had been put on hold, have been revived following the inception of the multiple currency system three years ago.
Private sector projects have also contributed their share to the upturn in the construction sector.
Overall, some of the significant projects that were underway during the course of this year include; Zimbabwe Platinum Holdings’ Ngezi Phase 2 project, expansion developments at Unki, the Mimosa Phase 6 expansion programme, and developments at Murowa.
Also significant is the dualisation of the Beitbridge-Chirundu road, the development of the Kunzvi and Muchavezi dams and open-cast mining in Kadoma by RioZim among others.
At its peak the country’s construction sector employed more than 35 000 people but official statistics show that the figure dropped to just over 3 000 in 2009. However, with the improvement in capacity utilisation the sector is expected to employ more people.
Cifoz, however, noted that the industry is still struggling with regards to acute funding shortages as local banks continue to impose stringent borrowing conditions at short-term duration.
Additionally, construction companies are struggling to re-attract skilled labour mainly engineers who left the country for greener pastures over the past decade.
The industry has a potential of accounting for at least 20 percent of the national Gross Domestic Product.
Online Reporter
- Herald
- July 31, 2026
- 54 views
Economy: Growth signs visible
Martin Kadzere Senior Business Reporter ZIMBABWE has made significant progress towards achieving upper-middle-income status, with the country’s Gross National Income per capita growing by 84 percent since 2021, Finance, Economic…
