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Brighton Gumbo, Business Reporter
PLAYERS in the construction industry have been challenged to be innovative to remain viable in light of the prevailing economic challenges.
Zimbabwe Building Contractors’ Association president Obert Sibanda yesterday said the construction industry was a bit depressed and there was therefore a need to find alternative ways to remain viable.
He said there was need for players in the sector to seek private and public partnerships in other countries.
“If we follow the traditional thinking, the construction sector is the most affected sector in the economy given a depressed performance of the economy,” he said.
He said instead of companies relying on national projects tenders, there was a need to go out and seek partnerships with companies in other countries.
Sibanda said working with companies from other countries was likely to boost business for the industry and enable companies to counter the effects of the depressed performance of the economy.
He said 2016 was likely to be a hard year for the construction industry given the liquidity crisis facing the country.
“As long the economy remains the same, the construction industry is likely to continue operating below 30 percent capacity,” he said.
In 2014, the Construction Industry Federation of Zimbabwe said lack of huge capital inflows as well as failure to implement major national development projects were adversely affecting the industry and the situation has not changed much since then.
At its peak, more than 35,000 people were employed in the construction industry.
Online Reporter