CONSTRUCTION TRANSFORMATION
WBHO agrees to mentor firms in settlement pact
Wilson Bayly Holmes-Ovcon (WBHO) will mentor three emerging contractors within its South African construction business as part of a settlement agreement between the government and seven JSE-listed construction groups. It will ensure the parties — Fikile Construction, Motheo Construction and Edwin Construction — acquire skills and the volume of work needed to generate a combined annual turnover of at least 25% of WBHO’s yearly South African civil engineering and building revenue within seven years. WBHO CEO Louwtjie Nel said on Tuesday the group felt it was an effective option to help black construction businesses to grow substantially. This comes after Aveng, SA’s largest construction and engineering group by turnover, agreed to sell a 51% stake in subsidiary Aveng Grinaker-LTA to Kutana Construction, a black women-owned group, as part of the settlement agreement. Meanwhile, Murray & Roberts has sold its Southern African infrastructure and building businesses to a wholly black-owned...
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