• Tue. Apr 23rd, 2024

Fibro Contracting applauds construction drive for better business

ByEconomic Times

Sep 28, 2022

Fibro Contracting has applauded government on their ‘Open for Business’ mantra as they have seen an increase in business in the past two years.

The company said construction is not only being done at big scale but companies building warehouses, new depots, cluster housings and schools and universities that are expanding their reach has seen business boom for the sector.

Fibro Contracting chief executive Manfree Tanyanyiwa said, “The country is in a developmental phase construction wise, something that we have not yet seen in decades and we have also benefited as a business and as an industry. Sometimes the contracts are big and we pool resources to meet the requirements.

Cement marker PPC said the market in Zimbabwe continued to show robust single-digit growth as a result of both residential construction and government-funded infrastructural projects.

Tanyanyiwa said on Fibro Contracting projects, “As for us as a company we are currently working on sporting facilities for a number of schools also we are engaged in the development of cluster houses and boutique hotel in Borrowdale. In the roads sector we have been given a slice of the pie as we are doing some in Waterfalls and the Seke Industrial area.”

While attention has been drawn to other areas, the boom in the real estate sector has not been given due recognition.

The government has been a key player complemented by the private sector and individuals leading to a construction boom reflective in the entire construction value chain with unlimited economic offshoots to other sectors of the economy.

Tanyanyiwa added that, “We give credit to government for creating a conducive investment environment laden with boundless opportunities within the capital intensive construction industry and we will see to it that it uplifts living standards in line with Vision 2030.”

This comes as many analysts in 2019 said the construction industry was in a precarious position, with operators living on the margins as they tried to deal with massive production decline, fast shrinking domestic demand and skyrocketing input prices.

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