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Challenges facing those building homes and a path forward

The construction industry has been growing steadily in recent years, particularly when compared to other sectors. There are many companies offering home construction services that seem to be transforming construction in Ghana, Nigeria, and other parts of Africa. However, there are still several hurdles that anyone who is thinking of building a house in Ghana, Nigeria, or other countries in Africa, might face. Be it high-interest rates, problems pertaining to land tenure, or most importantly, increasing prices of construction and building materials.

As a consequence of these challenges, many sub-standard construction companies in Nigeria/Ghana resort to practices such as usage of poor quality construction and building materials. In such circumstances, there are a few essential things to keep in mind for someone contemplating building a house in Africa, or any other international market, for that matter.

No compromising on material quality
Construction costs are rising because of the increase in prices of construction and building materials. There are specific factors that are causing this rise in prices. The majority of the companies that are engaged in real-estate development in Ghana procure their construction and building materials from outside Ghana. Basically, they are importing materials, which makes them vulnerable to a price hike every time Cedi devalues. However, this is not an excuse for skyrocketing the budget ceiling on a client’s project or to use poor quality or substandard materials.

Is there a way to overcome these challenges?
Sure there is. The above-mentioned challenges are not particularly unique. The construction industry in Nigeria, Ghana, and other parts of Africa are going through similar difficulties being faced by other industries. Hence, it is prudent to apply the lessons learnt by other sectors, to cope with such challenges.

For instance, a company engaged in IT services will probably work around such challenges by trying to ramp up innovation, creativity, and out-of-the-box thinking within the enterprise. As this would allow the minds at the company to not only serve the end-consumer but also outperform competitors and rivals. If we extrapolate this observation and apply it to the construction industry, it becomes clear that anyone who has the best design and can prudently utilise materials and other utilities will gain an upper hand.

A good example of such creativity can be seen among notable firms such as the Elzo Group, that has come up with specialised designs that can be utilised by home-builders everywhere, regardless of their geographic location. This straightforward approach has immensely helped the Elzo Group, as the construction building company has simplified the entire process for its clients while eliminating any hidden costs. This has allowed the firm to create a trustworthy name for itself in the sector. Home construction services such as the Elzo Group, are paving a new way forward for the construction industry to follow.

https://oxfordbusinessgroup.com/overview/forward-momentum-construction-sector-continues-be-major-engine-growth

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