adminTHE increasing number of residential properties being built countrywide has helped keep many players in the construction industry afloat in the face of lack of big projects, an official has said.Willdale Limited chief executive officer Nyasha Matonda said there is a slowdown in major construction projects in the country, and the industry was relying on residential housing developments for survival.
“There’re very few major construction projects being undertaken currently. However, we’re seeing an increased number of residential units being built and this has been the main driver of the construction business as the uptake of our products has been commendable,” he said.
Matonda said industry suppliers were also increasingly eyeing regional markets, such as Zambia, to survive the challenging trading environment prevailing.
He said Willdale had explored the Zambian market, and planned to begin brick exports to the country shortly when it increases output to 12 million bricks per month.
The company has invested $3 million raised from a rights offer last year in plant upgrade to expand production.
Already, other local brick manufacturers are exporting to regional markets, including Zambia. — New Ziana.
Online Reporter