Latest news with #NationalDevelopmentPlan2030
Mid East Info
15-05-2025
- Business
- Mid East Info
Big 5 Construct South Africa returns for its 12th edition, catering to the country's $125 billion construction market
South Africa's construction industry is e xpected to record an average annual growth of 3.5% from 2026 to 2028, supported by public and private sector investments in infrastructure Inaugural South Africa Infrastructure & Water Expo supports the country's development spending to boost port, rail, road infrastructure and water and sanitation The event features over 250 exhibitors from more than 20 countries, highlighting the latest products, services, systems and solutions to support the delivery of mega projects in the country South Africa's government has committed more than $50 billion over the next decade towards construction and infrastructure development (source: Construct South Africa ). Aligning with the country's ambitious plan, the 12 th edition of Big 5 Construct South Africa and the inaugural South Africa Infrastructure & Water Expo will take place from 18 – 20 June 2025 at the Gallagher Convention Centre in Johannesburg. Construction and infrastructure development are key to South Africa's economic growth, social progress and sustainability. With a $125 billion construction market and a $193 billion infrastructure market, the sectors support the National Development Plan 2030 and National Infrastructure Plan 2050 goals (sources: ABiQ). The inaugural South Africa Infrastructure & Water Expo directly addresses these pressing needs. 'The launch of South Africa Infrastructure & Water Expo alongside the 12 th edition of Big 5 Construct South Africa reflects the ongoing transformation of the country's construction and infrastructure landscape,' said Josine Heijmans, Senior Vice President – Construction, dmg events. 'These events align with national development priorities by enabling knowledge exchange and strategic partnerships that will accelerate the delivery of mega projects, boost economic growth and enhance quality of life. As South Africa ramps up investment in construction, infrastructure, water and sanitation, the events will drive international collaboration to support these critical initiatives.' International exhibitors drive industry momentum This year, visitors will have the opportunity to network and do business with a diverse line-up of exhibitors from over 20 countries, including Bahrain, Malaysia, Spain, Türkiye, the United States, United Arab Emirates, Saudi Arabia, Greece, Poland and more. Over 250 exhibitors will showcase unique products and services under diverse construction sectors, including concrete & cement, technology, building interiors & finishes, heavy construction equipment, machinery & vehicles, alongside the new sector for this year, power infrastructure & water management infrastructure. Building on the industry's growing prominence in the region, the exhibition also welcomes several prominent first-time exhibitors, including Bostik, a global leader in smart adhesive solutions; Muziset Fiberglass Sheeting, manufacturer of high-quality fibreglass sheeting; We Lift Solutions, provider of advanced lifting and construction equipment; Stanley Black & Decker South Africa, supplier of trusted tools and industrial solutions; and Olympic Paints, known for premium yet affordable solutions and AI-powered colour tools, among others. 'Big 5 Construct South Africa offers a powerful platform to connect with key decision-makers, showcase our innovations, and explore new market opportunities,' said Keneilwe Nawane, Commercial Director, DeWalt South Africa. 'As a first-time exhibitor, we are excited to be part of such a dynamic event that brings together the region's top construction players and drives industry growth.' CPD-certified sessions empower industry professionals Big 5 Construct South Africa and South Africa Infrastructure & Water Expo offer several knowledge-sharing opportunities across a diverse range of content programmes, allowing visitors to meet with key decision-makers, government entities and industry leaders. Through CPD-certified sessions, the event empowers industry professionals to share knowledge and advance their careers. Sessions at Big 5 Talks will provide practical insights across core industry themes such as project management, architecture & design, technology and sustainability, delivered by expert speakers. This year, the event will also host the Infra360 Talks and Water360 Talks, offering actionable insights into South Africa's most pressing infrastructure and water challenges. Covering critical themes from smart infrastructure, mega projects and public-private partnerships to water efficiency, smart management systems and climate resilience, these sessions will spotlight sustainable strategies, emerging technologies and investment opportunities shaping the future of urban development and resource management in the region. Exclusive access to sustainable infrastructure and water solutions New in 2025, the pay-to-attend South Africa Infrastructure & Water Forum will include insightful discussions led by thought leaders, policy makers and innovators on themes, including sustainable infrastructure, water projects, unlocking investment and project partnerships. 'As the region continues to prioritize infrastructure and economic transformation, Big 5 Construct South Africa and South Africa Infrastructure & Water Expo will allow attendees to reconnect with the industry and facilitate growth and advancement for their ongoing and upcoming projects,' concluded Heijmans. Registration is now open for Big 5 Construct South Africa and South Africa Infrastructure and Water Expo, co-located with WoodEX for Africa and Transport Evolution Africa, with free admission to trade and industry professionals over 18.
Zawya
11-03-2025
- Business
- Zawya
Redefining economic growth: South Africa's budget blueprint for reform
A national budget is often dismissed as a series of promises and colossal figures recited by a country's Minister of Finance. Yet, for many South Africans, the annual budget represents a transformative instrument that can be used to redress historical injustices, create job opportunities and secure a more equitable future. A 'good budget' tackles healthcare, housing, education and infrastructure, balancing industry-specific incentives with broad-based grants. Although this year's national budget has been marred by delays and fundamental disagreements over financing methods, its significance remains undiminished. A budget of redress for citizens South Africa's post-apartheid journey has been defined by a mission to heal a deeply divided society. Early efforts like the Reconstruction and Development Programme invested billions of rands in housing, healthcare and education, resulting in the construction of millions of homes and marked improvements in basic services. Today, the National Development Plan 2030 continues this legacy with ambitious allocations such as R259-billion for education in the 2023/24 budget. These funds are earmarked for upgrading infrastructure, training teachers and expanding early childhood development. Despite these substantial investments, nearly 63% of South Africans – around 38-million people – live below the upper-middle-income poverty line. Unemployment remains stubbornly high, fluctuating between 32% and 33.5%. A renewed focus on unlocking human potential could complement ongoing redress initiatives, setting the stage for more sustainable progress. Economic mobility: investing in human potential A nation's budget should lift its citizens out of poverty and set them on a path to economic contribution. Economic mobility is a cornerstone of sustainable development, and South Africa's fiscal plan reflects this ambition through significant investments in education and job creation. Initiatives like the National Student Financial Aid Scheme and the Youth Employment Service programme aim to equip young people with the skills necessary to break the cycle of poverty. However, modest GDP growth has limited job-creation impact: a 1% increase in GDP generates only 30,000 to 50,000 new jobs – far too few to absorb a rapidly growing labour force. International examples reinforce the need for robust human capital investment. Singapore's SkillsFuture programme and Germany's dual education system illustrate how focused educational investments can yield measurable economic outcomes. In South Africa, a country where youth unemployment is pervasive and the Gini coefficient (a measure of income inequality) soars to 63, financing practical skills transfer programmes is imperative. Such efforts would ensure that citizens are job-ready or able to launch businesses, enhancing South Africa's global competitiveness. Competitive advantage: strategic investments for global relevance With an estimated GDP of US$405bn, South Africa's economy is modest compared to powerhouses like China (US$17tn), India (US$3.7tn), Brazil (US$2.3tn) and Russia (US$2.2tn). South Africa contributes roughly 1.4% of the combined GDP of the original Brics nations. To secure a meaningful role in the global economy, the country must strategically invest in sectors that build a competitive advantage – especially manufacturing, industrial capabilities and technological innovation, with renewables emerging as a key area. China's meteoric rise offers a blueprint for transformation. Over the past 40 years, China shifted from low-income status to becoming the world's second-largest economy by embracing a series of reforms. In contrast, many of South Africa's industrial and special economic zones remain underutilised 'white elephants', while small business initiatives often remain more rhetorical than effective. A decisive reallocation of budget resources towards structural reforms and industrialisation could spark medium- to long-term growth and enhance global competitiveness. Economic growth: rethinking fiscal priorities Recent projections by the World Bank suggest South Africa's GDP may grow by 1.8% this year, possibly rising to 2% in the medium term, despite government targets of 3%. At such modest growth rates, the transition to high-income status could take as long as 60 years. Meanwhile, global indices consistently rank South Africa as a laggard in competitiveness. Social grants have served as a vital safety net for over 28-million citizens, yet they cannot drive long-term economic expansion. The recent budget impasse – sparked by plans to increase VAT by 2% to fund the Social Relief of Distress programme, among others – underscores the risks of a consumptive budgeting approach. Data from the South African Revenue Service (SARS) reveals that just 100 companies contribute 90% of the nation's tax revenue, indicating an overreliance on taxing a narrow base. South Africa must urgently diversify its revenue sources and shift from its reliance on taxing its way out of sticky situations. To mitigate these risks, the National Treasury must reconfigure fiscal financing by expanding revenue streams beyond taxes. Proposals include increasing tariffs, licensing fees and service charges and establishing a dedicated revenue-generation programme. Such a programme, modelled after reforms at Sars, could initially generate an estimated R500bn over the Medium-Term Revenue and Expenditure Framework, potentially rising to R1tn annually by the fifth year and boosting total revenue to R3tn. Budgeting for the future we want South Africa's budget should be far more than a record of fiscal balances; it must serve as a strategic roadmap for national renewal. Shifting from consumptive social spending to targeted investments in innovation and industrialisation represents a promising way forward.
