CORONAVIRUS: NAMIBIA CONSTRUCTION INDUSTRY NEEDS IMMEDIATE START AFTER PANDEMIC
The construction industry has been heavy affected due to the corona virus, but things are about to get worst if projects don’t kick-off immediately after the pandemic is over.
This can be witnessed in Namibia as the nation’s construction industry has been suffering huge losses already over the last four years.
Now with the novel virus on showcase, the industry is set for more problem if construction activities fails to return immediately after the virus is over.
According to report from Namibia Economist, Since 2015 the average annual contraction of the construction sector was 12%, with a massive 34.4% contraction in 2016. This had led to extensive business closures in the industry. Four years ago the industry contributed 7.2% to Namibia’s GDP. This has dropped to 2.7% in 2019.”
In an interview with General Manager of the Construction Industries Federation of Namibia (CIF), Bärbel Kirchner, he discussed the challenges facing the industry as well as potential closure of some construction companies due to lack of help from the Namibia Government.
Read full report on Namibia Economist