African contractors urged to capture share of US$330bn construction market
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African contractors must position themselves to win a meaningful share of a continental construction market projected to reach US$330 billion by 2031, the Zimbabwe Building Contractors Association says.
African contractors must position themselves to secure a meaningful share of the continent's construction market, projected to reach US$330 billion by 2031, industry leaders have said.
Speaking at the Master Builders South Africa Congress in KwaZulu-Natal, Zimbabwe Building Contractors Association president Tinashe Manzungu said the rapid expansion of Africa's infrastructure market must translate into greater opportunities for local companies. "This cannot simply become another expanding market in which Africa consumes while others produce, build and profit," he said.
Manzungu said the African Continental Free Trade Area should be used to unlock markets for African contractors and promote greater participation by local firms in major infrastructure projects, rather than turning the continent into a dumping ground for goods and services made elsewhere.
He added that regional integration should enable construction companies to cross borders, form joint ventures, transfer skills and develop local manufacturing capacity, and argued that Zimbabwe is positioned to become a regional construction powerhouse.
"Zimbabwe's construction sector is projected to grow by approximately 5 per cent in 2026, while real estate activities are projected to grow by around 3.2 per cent," Manzungu said, citing increased activity in housing, roads, energy, mining infrastructure and new urban developments.
He pointed to the modernisation of Beitbridge and continued investment in major transport corridors as evidence of Zimbabwe's potential to sit alongside South Africa as a strategic gateway into the continent, and said the association's growing relationship with Master Builders South Africa was part of efforts to connect the two industries.