Renting of Construction Equipment with or without Operator in South Africa 2017

LONDON, July 17, 2017 /PRNewswire/ -- The Renting of Construction Equipment with or without Operator : The plant hire industry performs an important function in the construction industry which builds and maintains the infrastructure on which almost every other industry depends. According to the latest official figures for 2014 released in late 2016 by Statistics South Africa (StatsSA), the sector focusing on the rental of construction equipment with or without an operator was valued at R17.741bn, up from R11.096bn in 2011. However, industry growth since 2015 has been considerably slower.

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Challenging Times: Industry players attest to 2016 being one of the toughest years for the construction, building and plant hire industries due to prevailing political and economic conditions. Decreased mining and manufacturing production in Q4 2016 meant that the economy contracted by 0.3% quarter-on-quarter and overall the economy grew by only 0.3% in 2016. Other issues confronting the sector include new regulations and legislation especially in respect of Broad-Based Black Economic Empowerment (B-BBEE). The draft amended Construction Sector Code (CSC), released for public comment in November 2016, mandates a 35% black ownership and stipulates a minimum of 50% of black shareholding to be held by professionals to discourage passive shareholding. Analysts expect the charter to have a profound impact on the industry.

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