construction_images.jpgStakeholders in the local construction industry are optimistic of a steady growth this year following significant business generated last year as well as the increase in capacity utilisation from 22% in 2010 to 33% in 2011.

The construction industry which over the past few years has been faced by a number of challenges including lack of credit lines, unavailability of key materials as well as subdued demand continue to register notable improvements as evidenced by an increase in the number of roads, mining and housing projects which took off in 2011.

Construction Industry Federation of Zimbabwe, President, Mr. Philip Chiyangwa who hailed the resurgence of the sector is optimistic the sector will maintain the positive momentum in 2012.

Other stakeholders say the sector is poised to record phenomenal growth adding that there is still need to capacitate the Infrastructure Development Bank of Zimbabwe IDBZ to ensure that it plays its role of offering financial assistance to players in the sector.

The construction industry which used to be the major source of employment in the past has the potential to account for 20% of the country’s annual Gross Domestic Product.