Africa’s greatest obstacle is not capital shortage but inadequately prepared bankable projects, according to leaders at the PMI Global Summit Series Africa in Kigali, where nearly 1,000 delegates identified poorly prepared projects as the continent’s biggest transformation barrier.
The Summit, described as the largest of its kind on the continent, served as a platform to discuss how Africa can realize its potential through bankable projects, professional project management, and strategic partnerships delivering long-term impact.
Dr. Akinwumi Adesina, outgoing President of the African Development Bank, emphasized that Africa stands at a pivotal historical moment, noting that one in four people globally will soon be African. With 65% of the world’s uncultivated arable land and abundant critical minerals, Africa is positioned to drive global prosperity.
“The world is becoming more African,” Adesina declared during his address. “Projects must not just exist on paper. They must change lives. As one Kenyan beneficiary told me, ‘We once were in darkness. Now we have light.’ That is the true measure of success.”
However, realizing this potential requires closing Africa’s annual infrastructure gap, estimated at $70 billion, and ensuring projects deliver measurable impact rather than remaining conceptual proposals.
Armand Nzeyimana, Director of Development Impact and Results at AfDB, highlighted the persistent shortage of well-prepared, bankable projects as a critical obstacle to continental development.
He explained that bankable projects must meet three essential criteria: technical feasibility with proven designs and resilient standards, financial viability with clear revenue models and acceptable risk-return profiles for investors, and robust risk management addressing currency, political, and market risks.
“Without these fundamentals, even the most noble intentions cannot secure the financing needed to move from paper to reality,” Nzeyimana warned, noting that poor preparation extends project timelines by up to 50%.
The cost of delays extends beyond financial implications to developmental impact. “Every missed deadline slows progress on the Sustainable Development Goals and leaves millions waiting for essential services,” he emphasized, citing the 600 million Africans still without electricity access.
Rwanda’s selection as host city reinforced the Summit’s “Africa On Purpose” theme, with Kigali’s rapid transformation serving as a demonstration of purposeful leadership and disciplined project execution.
George Asamani, Managing Director of PMI Sub-Saharan Africa, emphasized that project success extends beyond schedules and budgets to outcomes that change lives. “Africa’s future will be shaped not by the number of projects we launch, but by the impact those projects deliver.”
Adesina highlighted AfDB’s High 5 priorities – Light up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve Quality of Life – which have already impacted over 565 million people through electricity access expansion, transport corridor development, and digital infrastructure projects.
The outgoing AfDB President proposed a strategic alliance between PMI and AfDB to raise global standards in project delivery, combining PMI’s methodologies with the Bank’s cross-border initiative experience while developing African project professionals.
Summit discussions emphasized that intentional planning, risk-smart execution, and creative financing can transform visionary concepts into bankable, scalable realities.
A clear consensus emerged that project management represents not merely a discipline but a strategic enabler of Africa’s transformation through embedding PMI’s global standards, certifications, and methodologies into the continent’s project landscape.
As delegates concluded discussions, they agreed that Africa’s future depends not solely on its resources but on its ability to prepare, finance, and execute projects with excellence across sectors from renewable energy to digital transformation and regional trade corridors.
Source: newsghana.com.gh
