{"id":763345,"date":"2024-03-26T10:00:00","date_gmt":"2024-03-26T08:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=763345"},"modified":"2024-03-26T10:18:21","modified_gmt":"2024-03-26T08:18:21","slug":"renewables-boost-for-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/763345\/renewables-boost-for-south-africa\/","title":{"rendered":"Renewables boost for South Africa"},"content":{"rendered":"\n

More civil contractors are satisfied with the South African operating environment, and renewable energy projects are largely responsible for the sector’s solid performance. <\/p>\n\n\n\n

The\u00a0FNB\/BER Civil Confidence Index<\/strong>\u00a0increased from 41 in 4Q2023 to 47 in 1Q2024, the best level since 3Q2016.<\/p>\n\n\n\n

The current reading indicated that close to 50% of respondents are satisfied with prevailing business conditions.<\/p>\n\n\n\n

The improvement in sentiment was supported by underlying indicators, especially growth in activity. <\/p>\n\n\n

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FNB\/BER Civil Confidence Index<\/figcaption><\/figure><\/div>\n\n
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Growth in Civil Construction Activity<\/figcaption><\/figure><\/div>\n\n\n

\u201cThe real value of construction works increased by 2.1% on an annual basis in 4Q2023, from 0.1% in 3Q2023. The survey results suggest that this momentum could quicken in 1Q2024\u201d, said Siphamandla Mkhwanazi, Senior Economist at FNB.<\/p>\n\n\n\n

The improved activity helped firms to start reasonably profitable. <\/p>\n\n\n\n

\u201cTraditionally, the sector has been characterised by very thin profit margins,” said Mkhwanazi. <\/p>\n\n\n\n

“However, with better activity \u2013 and despite an uptick in tendering competition \u2013 profit margins are at historically good levels.” <\/p>\n\n\n\n

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Big turn for South Africans earning more than R20,000 a month<\/a><\/blockquote>