South Africa

Fall of construction giant Group 5 ‘is the government’s fault’

13 March 2019 - 08:00 By GRAEME HOSKEN
subscribe Just R20 for the first month. Support independent journalism by subscribing to our digital news package.
Subscribe now
Construction company Group 5 said its financial constraints had worsened.
Construction company Group 5 said its financial constraints had worsened.
Image: Joao Silva for The New York Times

The looming demise of SA construction giant Group 5 shines the light on a cash-strapped government unable to pay for large-scale projects, say economists and business rescue experts.

On Monday, the company announced it was going into voluntary business rescue, as its financial woes put the jobs of thousands at risk.

subscribe Just R20 for the first month. Support independent journalism by subscribing to our digital news package.
Subscribe now

Most read

  1. Health minister Motsoaledi's daughter breaks mould as tech entrepreneur Sci-Tech
  2. Durban crèche shuts after toddler's fall which led to brain injury South Africa
  3. Trump nominates father of January 6 rioter as US ambassador to SA World
  4. Double murderer Nkuna bought two luxury cars, house while in prison South Africa
  5. East London taxi shutdown planned for Tuesday in protest over arrest of Santaco ... South Africa

Latest Videos

US firm Firefly scores its first moon landing with Blue Ghost spacecraft | ...
Sudan's RSF restricts aid amid famine, relief workers say | Reuters