Fibro Contracting supports the construction industry’s push for growth
HARARE – Fibro Contracting, which has seen a rise in business over the last two years, has praised the government for its “Open for Business” credo. According to the corporation, businesses in the construction sector are booming as companies create warehouses, new depots, cluster housing, schools, and colleges that are expanding their reach. “One of the major pillars of the National Development Strategy One, housing development, is witnessing an excessive surge,” said Manfree Tanyanyiwa, chief executive of Fibro Contracting. “Many cooperatives and many cooperatives have enlisted us to complete the projects.”
The National Development Strategy One’s 14 main clusters, which include infrastructure, utilities, value chain transformation, social protection, fiscal consolidation, and governance, serve as the foundation for the nation’s economic development agenda. With regard to construction, Tanyanyiwa continued, “The country is in a developmental phase that we have not yet witnessed in decades, and we have also profited as a business and as an industry. Large contracts occasionally require us to pool our resources in order to satisfy the demands.”
“As for our company, we are currently developing cluster homes and a boutique hotel in Borrowdale, as well as sporting facilities for a number of schools. We have been allocated a piece of the pie in the road sector because we are working in Waterfalls and the Seke Industrial area. While attention has been drawn to other areas, the boom in the real estate sector has not been given due recognition. The government has played a significant role, and it has been aided by the private sector and individuals. This has resulted in a construction boom that is reflected throughout the entire construction value chain, with countless economic spillover effects to other areas of the economy.
Tanyanyiwa added that, “We give credit to government for creating a conducive investment environment laden with boundless opportunities within the capital intensive construction industry and we will see to it that it uplifts living standards in line with Vision 2030.” The development that points to a country’s sustained economic rehabilitation has impressedeconomists. From the standpoint of development, it is impossible to ignore the high rate of housing construction that is occurring, which confirms the amount of income that is available for investment.
This is crucial for Zimbabwe because what is occurring in the construction industry has sparked other economic sectors as well. As real estate developers, we are pleased with the amount of investment, which is primarily from Zimbabweans, and the type of construction that is happening, which is evidence of a favorable operating climate.