Pretoria: Public Works and Infrastructure Minister, Dr. Dean Macpherson, expressed satisfaction with the recent rebound in South Africa’s construction sector, noting it as a key driver for job creation in the country. The latest statistics reveal the construction sector experienced the largest job growth compared to other sectors between Quarter 2 and Quarter 3, as reported by the Quarterly Labour Force Survey.
According to South African Government News Agency, who released the Quarterly Labour Force Survey, the construction sector added 176,000 jobs, contributing to a decrease in the country’s unemployment rate by 1.4%. South Africa’s overall unemployment rate now stands at 32.1% in the third quarter. While acknowledging the high unemployment figures, Minister Macpherson emphasized the positive developments in the construction industry, viewing them as indicative of potential growth and future job creation.
Minister Macpherson highlighted several initiatives aimed at fostering further investment and job cr
eation in the sector. These include restructuring Infrastructure South Africa to streamline major infrastructure projects, reforming regulations around Public Private Partnerships to facilitate private sector involvement, and expanding the role of the Infrastructure Fund to attract more private sector funding. Additionally, the introduction of project preparation financing is anticipated to expedite the execution of construction projects.
The minister expressed optimism about the ongoing reforms and their potential to transform South Africa into a hub of construction activity. He highlighted the importance of building confidence within the industry and the positive impact it would have on the lives of South Africans. Looking ahead, Macpherson remains focused on increasing the number of construction projects across the country, signaling a promising future for the sector and the nation’s economy.