Featured Post

PROFILE : My journey to Professional Registration - Innocent Gininda

Posted by on
Innocent Gininda shares his journey to becoming a registered Professional Engineer (PrEng), emphasizing the importance of mentorship, early preparation, and understanding ECSA requirements. He offers advice to aspiring PrEngs, highlighting the value of diverse feedback and a positive mindset. My journey to becoming a registered Professional Engineer (PrEng) culminated successfully in November 2024. I was fortunate to begin my career at a company with a Commitment and Undertaking (C&U) Agreement with ECSA and a robust mentorship program. This commitment to training engineers to the standard required for Professional Registration provided me with essential resources and a structured path to track my experience against ECSA requirements. Early exposure to these expectations instilled a positive outlook on registration and solidified my desire to achieve this milestone. My views on Professional Registration have remained consistently positive throughout this journey. Working alongside ...
3

NEWS : 2024 Q1 construction activities were affected by the weak economy.

Posted by on
According to Economist Dr. Roelof Botha, who compiles the Afrimat Construction Index (ACI), South Africa's feeble economic expansion in the initial quarter of 2024 was mirrored in the construction industry.


Dr. Rolelof Botha, attributes the lethargy in the construction sector to several factors.

One is the high cost of capital in South Africa. The current prime overdraft rate of 11.75% is 175 basis points higher than before the COVID-19 pandemic and the highest in 14 years. This is despite the consumer price index being within the South African Reserve Bank (SARB) target range for inflation of 3% to 6% for 11 consecutive months and the absence of demand inflation in the economy.

Another factor is dysfunctional municipalities. Dozens of municipalities in South Africa have been dysfunctional for many years, preventing them from accessing conditional National Treasury grants earmarked for infrastructure upgrades.

Finally, fiscal constraints due to weak economic growth have prevented any significant increase in construction-related capital expenditure in the 2024/25 National Budget.

The full article can be read on Engineering News , follow our Whatsapp channel here for more hardhatNEWS.

Comments

Post a Comment