Projects in the Zambian construction sector include buildings and housing, civil engineering works, roads, and earthworks, and electrical and telecommunications. Rapid population growth and urbanization provide a lot of potential for growth in the buildings and housing segment due to higher demand for housing. The construction market is valued at around $8.5 Bn as of 2022, contributing 14.4% to GDP, making it the third largest sector in the economy. It is also one of the fastest growing sectors, experiencing a growth rate of 8.3% between 2019 and 2022. Further development within the sector is currently impeded by challenges such as input costs, slow procurement processes and shortage of skilled labor.

By addressing these challenges and leveraging the strengths of the Zambian construction sector, companies can transform the sector and support the country's long term growth outlook. By embracing innovation and sustainable practices, Zambia's construction sector has the potential to become a key driver of economic growth and become a hub of construction investments in Africa, while providing jobs and wealth to Zambians.

At Red Black Ventures, we believe that unlocking the full value of the Zambian construction sector requires a deeper understanding of its unique challenges and opportunities. We keep a close eye on market trends, gather data, and work with businesses to develop effective strategies that help them succeed in the sector.