Latest Posts

New cannabis bill could see construction taking the high road

The proposed amendments to the Cannabis for Private Purposes bill that seeks to further decriminalise cannabis usage and legalise South…

Read More..

A root cause of flooding in Accra: developers clogging up the city’s wetlands

Christopher Gordon, University of Ghana Ghana has six designated Ramsar sites. These are wetlands designated under the criteria of the…

Read More..

Nigerian property crime could be reduced if neighbourhoods were better designed

Adewumi Badiora, Olabisi Onabanjo University Nigeria has a very high crime rate. The Global Peace Index ranked it the world’s…

Read More..

Inner cities are growth engines attracting young homebuyers

Inner city living is boosting the city residential property market and driving urban rejuvenation Inner cities. Love them or hate…

Read More..

Kenya’s push for affordable housing is creating opportunities despite barriers

Raphael M. Kieti, University of Nairobi; Robert W. Rukwaro, University of Nairobi, and Washington H.A. Olima, University of Nairobi In…

Read More..

Heron IVC: Walking the green talk

Waterfall is closing the loop on waste Waterfall prioritises sustainability and responsible environmental stewardship as a strategic imperative, keeping the…

Read More..

Italtile unpacks new Nordic wood looks

Introducing Helsinki EcoWood by EcoCeramic Ceràmica. Right now, the hybrid Japandi trend is rising fast, with its calming combination of…

Read More..

Flagstaff Square sets a new standard for rural retail

Flagstaff, located in the OR Tambo district in the Eastern Cape, began its existence as a trading post and essentially…

Read More..

11th Jun 2022

Architect Africa Online

Africa's Leading Architecture Aggregator

Construction industry holds key role in economic recovery

While the South African GDP has seen some growth in the last four quarters, the construction industry remains key to expediting the recovery and creating jobs, according to CFO of privately-owned construction company, GVK-Siya Zama, John de Sousa.

De Sousa has been at GVK-Siya Zama for more than two decades, playing a pivotal role in the growth of the business and says that, over the past five years, the company has seen annual turnover grow 20% year on year, despite the global pandemic.

This was achieved while many of GVK-Siya Zama’s competitors, including several listed companies, went out of business in some of the most treacherous conditions the economy has ever faced.

De Sousa says the initial stages of the pandemic didn’t have the dire impact initially expected as projects were already on their books, but investor sentiment declined rapidly during the hard lockdown which led to a downturn in the company’s order book in the early part of 2021. “As investor confidence has since improved and the different stages of lockdown have eased, we’ve seen a glimmer of hope and recovery with more opportunities on the horizon.”

The key to GVK-Siya Zama’s survival over this time has been its hands-on approach. “During the initial lockdown period, we spent our days in online team strategy sessions to mitigate risk, manage costs and keeping our teams involved, motivated and productive.”

Investor sentiment has started to shift since Q3 this year and De Sousa says this augurs well for the industry and the country. “We are hoping to see the fruits of this in the next year as Covid gradually loses its grip on the country.”

Another catalyst to the recovery of the industry will be government infrastructure spend which is critical for job creation and economic recovery. “Government infrastructure spend and the rollout of projects and services to communities remain critical to the wellbeing of our country and its people. Government can jumpstart the economy and create numerous jobs through infrastructure spend. In turn, the construction industry plays a multifaceted role in economic growth through skills transfer, SMME growth and development, and creating local employment in communities where projects are taking place,” explains De Sousa.

Today, De Sousa and his executive colleagues lead a modernised construction company with a young, hands-on management team. This approach, coupled with an ethos of integrity and hard work, has contributed to the business’s steady growth trajectory since 2015. The evolution of the company has seen this former painting and renovation contractor join the construction big league with big ticket projects of increased complexity requiring top notch skills and big match temperament.

“In the last decade, we’ve grown to become a fully-fledged building contractor and count as one of the biggest privately owned national construction companies in the country. Our step up to the major league, combined with people-centric employment practices has positioned us as a preferred employer who attracts some of the best talent in the industry,” says De Sousa.

In conclusion, he says the construction industry remains one of the most inefficient industries, and the company’s focus remains on reducing inefficiencies and subsequently, improving bottom-line.


error

If you find this website useful please spread the word.

RSS
Follow by Email
WhatsApp