Group Five prepares to scale up its African presence

South African construction company, Group Five, will scale up its activities in the rest of Africa over short to medium term, where it has identified an opportunity pipeline worth R46-billion between now and 2016 within an overall project portfolio worth R119-billion, covering South Africa, the Middle East and the rest of Africa. Group Five has already operated in 18 African countries over the years.

In July, the International Monetary Fund raised its 2010 growth forecast for sub-Saharan Africa to 5%, compared with an April forecast of 4,7%. The forecast for 2011 was left unchanged at 5,9%.

In the Middle East, the group had moved into territories beyond debt-afflicted Dubai, where it saw "attractive opportunities" aligned to its infrastructure capabilities.

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http://www.engineeringnews.co.za/article/group-five-says-order-book-stands-at-r71bn-warns-of-slow-2011-2010-08-10