At BizFunding, we believe there are many reasons to be positive about our country’s construction industry.
Challenges remain, but 2024 is proving to be a year of opportunities for construction businesses in South Africa.
More tenders for contractors and small construction firms
One entity driving billions of rands worth of infrastructure development is the South African National Road Agency (SANRAL).
The state-owned agency closed more than R6 billion in tenders in Q4 2023. This year, tenders to the value of R28 billion are on the cards. At least 30% are earmarked for small construction companies and contractors.
2024 growth in the construction industry
Despite the tepid local economy, the construction industry is experiencing a surge in activity.
According to the latest Afrimat Construction Index (ACI), the sector expanded by 3% year-on-year in the fourth quarter of 2023, the highest it has been in six years.
Projections are equally optimistic, with the average annual growth rate pegged at around 3% over the next four to five years.
Useful resources for finding construction tenders
Operating in the competitive construction tender environment requires an agile and proactive approach.
The first step is to find suitable tenders for your SME. These resources may help.
BidAlert Subscribe to a mailing list alerting you to bid documents added to the Government Communication and Information System’s (GCIS) website.
Active government tenders Browse a list of tenders or scroll down, select your province and click on the “tenders” tab.
eTenders Find bids via a somewhat clunky online search facility.
CWC Tenders Carry out advanced searches for civil works and construction tenders on one of the largest global databases.
SA-Tenders and Online Tenders View opportunities on third-party South Africa tender websites.
Company Partners Buy a Government Tender Search Service for one-off fee.
Tender financing for construction businesses
Finding a tender in today’s bullish construction market is one thing. Coming up with the capital to fulfil a tender is another – and can be challenging.
That’s where BizFunding comes in.
We don’t work like traditional banks or loans; instead, we offer a profit-sharing model. We partner with your business and assist with the execution of the tender. We also pay suppliers for you and assist with the running costs of the project.
For eligible tenders, we offer funding from R50,000 to R2 million.
Simply call 012 001 0095 or submit your details using our online application form, and a consultant will contact you to guide you through the process.
