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Slump for construction companies on JSE as govt defaults on promised developments

Business News 1 month ago

Construction-listed market intelligence firm Industry Insight reports that its contractors index fell by 8.1% in September as confidence in the government’s ability to deliver on promises dries up.


27 Oct 2020
PREMIUM!
Slump for construction companies on JSE as govt defaults on promised developments

Concerns regarding the state’s ability to deliver on its plans abound. Photo for illustration: iStock

A lack of confidence in the government’s ability to deliver on its promised multi-billion-rand infrastructure investment plan is being reflected in the lack of any major movement in the share prices of JSE-listed construction and construction material companies.  Construction-listed market intelligence firm Industry Insight reports that its contractors index fell by 8.1% in September as confidence in the government’s ability to deliver on promises dries up. Industry Insight senior economist David Metelerkamp said there has been much hype about large-scale infrastructure stimulus and so-called shovel-ready strategic infrastructure projects over the last few months – but to date it has been all...

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