Africa’s construction markets are beginning to be impacted negatively by Russia’s invasion of Ukraine and renewed lockdowns in China just after these markets had begun to recover from the impact of the Covid-19 pandemic. This was according to Turner & Townsend’s International Construction Market Survey (ICMS) for 2022. The independent professional services company operates in the global real estate, infrastructure and natural resources sectors.
The ICMS, drawn from data and experience from 90 global markets, found that in Africa some cities had showed significant recovery in construction, including Johannesburg, Cape Town, Gaborone, Harare, Nairobi, Kigali, Kampala and Lagos.
However, the market’s full potential required more growth to restore gross domestic product (GDP) to pre-pandemic levels.
Furthermore, inflation across the continent was likely to reduce consumer demand, further impacting growth in…