Zimbabwe’s construction sector is this year projected to register a 4,5 percent growth from negative levels in the past few years on the back of revival of projects that had been stalled due to limited foreign currency and high production costs.
Loss of investments had seen the construction sector failing to operate on profits margins.
A transaction advisor with a local construction firm, Mr Tafadzwa Mputa said renewed investor interest has ignited a sense of hope despite billions of dollars needed by the sector.
“Funding is key, but it is how we raise it as we anticipate at least $5 billion,” he said.
Infrastructure Development Bank of Zimbabwe (IDBZ) Chief Financial Analyst, Mr Taurai Duku said the growth of the construction sector will depend on the rebound in investment inflows.
“As a development bank, it is also our mandate to mobilise capital,” he said.
Construction Industry Federation of Zimbabwe (CIFOZ) member, Mr Tendekai Mawire said investments in the industry are critical in creating job opportunities and growth of the entire economy.
“If we unlock the funds, then the opportunities will be there for the sector to prosper,” he said.
Most construction firms relocated to other countries while some of them closed operations in the past few years due to limited opportunities, depressed profits and huge debts.