Construction industry making progress with deals to transform the sector

In a move that will see local construction companies further honour their agreements with government to ensure  inclusivity for black contractors in the South African construction sector, the Competition Commission has recommended a number of merger deals to the Competition Tribunal for approval. In October 2016, seven large listed construction companies made the commitment to either ensure that the equivalent of 25% of their yearly South African construction turnover is executed by black construction companies within seven years, or that more than 40% of their construction business is sold to black construction shareholders within the same timeframe.