Economic Growth in Sub-Saharan Heavily Impacting Infrastructure Development

Economic Growth in Sub-Saharan Heavily Impacting Infrastructure Development

Economic growth in sub-Saharan Africa is outpacing growth in the rest of the world, with the region’s economy expected to grow by 6.1% in 2014, and The TotallyConcrete Expo is the cement, concrete and construction industry’s soloution to keeping up with the pace of future demand, as industrial, commercial and residential infrastructure projects crop up at an increased rate across the continent.

Nedbank Group South Africa economist Nicky Weimar will deliver the keynote address at the event, which will take place at the Sandton Convention Centre, in Johannesburg, from June 4 to 5, providing a clear picture of where the industry is headed and what measures are necessary to sustain this accelerated growth and drive direct foreign investment for efficient infrastructure delivery.

The economies of Côte d’Ivoire and Mozambique are at the helm of this growth, set to expand at a rate of 8% or more next year. Côte d’Ivoire, as Africa’s largest producer of cocoa, and Mozambique, the site of the world’s biggest gas discovery in the last decade, will set the pace for the entire continent.

Rapid infrastructure development is required now more than ever to sustain these predicted growth rates, with growth estimates climbing higher as 2014 approaches.

In Tanzania, for example, cement demand grew by 10% last year to 2.7-million tons, while growth in the building industry accelerated to 6.5% in the third quarter of 2012. Local cement manufacturers and construction industry stakeholders must prepare for the intensified competition that will follow this predicted growth in the market.

Read more at engineeringnews.co.za