Africa’s construction sector to grow at a CAGR of 6.4% by 2024Created: Tuesday, 12 January 2021 09:39The Africa construction market is expected to register a CAGR of 6.4% from 2019-2024, according to Reportlinker’s "Africa Construction Market - Growth, Trends, and Forecast (2020 - 2025)" reportThis is because of accruing benefits and/or advantages such as availability of huge natural resources, huge investment opportunities in energy and infrastructure, cheap labor and a fast-growing consumer market. As a sector, the Transport sector has 186 projects 22.7% of total project value, following by power and energy projects with a share of 24.4 of the total project value. According to the report, South Africa’s construction industry continues to face tough times amid lower investment in infrastructure by government, low business confidence and lower foreign direct investment. Kenya Vision 2030 overall goal for the construction sector is to increase its contribution to GDP by at least 10% per annum and propel Kenya towards becoming Africa’s industrial hub. Construction activity in Tunisia to growThis is supported by investments in public infrastructure, residential and renewable energy projects.

Source: The North Africa Journal January 12, 2021 12:00 UTC