FINANCE
Persistently high loadshedding is extracting a heavy price from the construction industry , severely constraining its economic growth and job creation potential , warns industry expert Roelof van den Berg , the CEO of Gap Infrastructure Corporation .
Pointing to the urgency of the situation , South Africa had already experienced more than 1,393 hours or 58 days of rolling blackouts within the first two months of 2023 alone . Given that 2022 saw a total 3,776 hours or 157 days of national loadshedding , this year is likely to set another record for blackouts , causing unprecedented and expensive delays to vital construction and infrastructure work .
Van den Berg explains that the construction industry relies heavily on electricity to power machinery and lights . Loadshedding has thus disrupted work schedules , caused delays , and forced contractors to reschedule their projects , and damaged electrical equipment through power surges and voltage spikes .
Additionally , the rising cost of electricity has resulted in increased building costs , while the supply
77 APRIL / MAY 2023 SA Real Estate Investor Magazine