We've got news for you.

Register on Sunday Times at no cost to receive newsletters, read exclusive articles & more.
Register now

If Edcon can be bailed out, why not construction firms?


If Edcon can be bailed out, why not construction firms?

What about the workers? Strange that the government (or the PIC) has not yet come to the industry’s rescue

Nick Hedley

If the Reserve Bank and Public Investment Corporation (PIC) can bail out the likes of Edcon and African Bank, and the government can prop up SAA and other failing state-owned enterprises, why can’t they save SA’s major construction groups?

The construction industry has been decimated over the past decade because of a dearth of infrastructure projects – a direct result of the deterioration of SA’s public finances.

Construction companies are major employers, meaning their potentially terminal decline will herald big job losses. Group Five, established in 1974, employs more than 8,000 people. It and other former industry stalwarts, including Basil Read, are fighting for survival after being forced into business rescue...

This article is reserved for Sunday Times Daily subscribers.
A subscription gives you full digital access to all Sunday Times Daily content.

Sunday Times Daily

Already subscribed? Simply sign in below.

Questions or problems?
Email helpdesk@timeslive.co.za or call 0860 52 52 00.