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Master Builders South Africa is calling for urgent government intervention to prevent further destruction of the construction industry in the country. The call follows Group Five’s filing for bankruptcy protection last week, the fifth major construction company to do so in less than a year. Roy Mnisi, Executive Director of Master Builders expressed deep concern on the matter. “This is the fifth large firm to succumb in less than a year. Read moreYou must log in to read the rest of this article. Please log in or register as a user.Username:Password:Log in RegisterForgotten username or password? »
Watch as MBA North former President Jason Wilmot comments on the state of the construction industry after MBA North member Group 5 files for business rescue. On Monday last week, we saw the collapse of industry giant Group Five as it was put into business rescue with its stock being suspended after it filed for bankruptcy protection. There has been a significant decline of South African construction businesses and for more analysis on the construction industry, CNBC Africa is joined by Jason Wilmot, former President of Master Builders Association North and Serfaas Badenhorst, Portfolio Manager at Momentum Securities. »
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Dear Hon. President Cyril Ramaphosa
Construction Industry Up In Flames: Urgent Action Required