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Africa’s greatest obstacle is not a shortage of capital but a shortage of bankable projects. That was the central message from the PMI Global Summit Series Africa in Kigali, where African Development Bank leaders and nearly 1000 delegates emphasised that poorly prepared projects remain the biggest barrier to the continent’s transformation.
The Summit, the largest of its kind on the continent, served as a powerful platform to discuss how Africa can turn its vast potential into reality through bankable projects, professional project management, and strategic partnerships that deliver long-term impact.
In his special address, Dr. Akinwumi Adesina, President (now former), African Development Bank (AfDB), emphasised that Africa is at a pivotal moment in history. “The world is becoming more African,” he said, noting that one in four people on the planet will soon be African. With 65% of the world’s uncultivated arable land, abundant critical minerals for the green transition, and 13 of the world’s fastest-growing economies, Africa is poised to drive global prosperity.
Yet to realise this potential, he stressed, Africa must close its infrastructure gap, estimated at $70 billion annually, and ensure that projects deliver real impact. “Projects must not just exist on paper,” Adesina said. “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.” Adesina highlighted AfDB’s High 5 priorities, Light up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve Quality of Life, which have already impacted over 565 million people. From expanding electricity access to building transport corridors and digital infrastructure, he emphasised that projects are the vehicles of transformation.
“At Project Management Institute (PMI), we believe project success is not measured only by
schedules and budgets, but by outcomes that change lives. Dr. Adesina captured this
perfectly when he said projects must change lives,” said George Asamani, MD, PMI Sub-
Saharan Africa. “Africa’s future will be shaped not by the number of projects we launch, but
by the impact those projects deliver.”
Building on this vision, Armand Nzeyimana, Director, Development Impact and Results
Department at the AfDB, spotlighted a persistent obstacle: the shortage of well-prepared,
bankable projects.
He explained that a bankable project is one that meets three essential tests: technical
feasibility, with proven designs and resilient standards; financial viability, with clear revenue models and acceptable risk-return profile for investors; and robust risk management, where currency, political, and market risks are identified, allocated, and mitigated. “Without these fundamentals,” Nzeyimana said, “even the most noble intentions cannot secure the financing needed to move from paper to reality.”
He warned that poor preparation comes at a steep cost. Projects designed for five years
often stretch to eight or more, with completion timelines extended by up to 50%. “The cost of delay is not just financial, it is developmental,” he said. “Every missed deadline slows
progress on the Sustainable Development Goals and leaves millions waiting for essential
services. Today, 600 million Africans remain without electricity. That statistic will not change without bankable projects.”
The choice of Kigali as host city reinforced the Summit’s theme, “Africa On Purpose.”
Rwanda’s rapid transformation, ranging from major infrastructure investments to its growing role as a hub for tourism, sport, and innovation, offered delegates a vivid demonstration of purposeful leadership and disciplined execution. “Kigali is changing by the day,” Adesina noted, “and it shows what is possible when vision is matched with planning and delivery.”
Throughout the Summit, a clear consensus emerged: project management is not just a
discipline but a strategic enabler of Africa’s transformation. By embedding PMI’s global
standards, certifications, and methodologies into Africa’s project landscape, the continent
can build the capacity needed to deliver transformative projects at scale.
Adesina proposed a deeper strategic alliance between PMI and AfDB. “Even as I near the
end of my term, I see extraordinary opportunities for the AfDB and PMI to forge a strategic
alliance that raises global standards in project delivery. We can create learning partnerships that blend PMI’s global methodologies with the Bank’s deep experience in cross-border initiatives, while building the next generation of African project professionals among the world’s most capable.
Africa is brimming with opportunities, but to seize them, we must develop and execute projects at scale, with excellence and purpose.”
As the Summit concluded, delegates agreed that Africa’s future will not be defined by its
resources alone, but by its ability to prepare, finance, and execute projects with excellence.
From renewable energy to digital transformation, from regional trade corridors to urban
renewal, the projects planned today will shape Africa for decades to come.
About Project Management Institute (PMI):
PMI is the leading authority in project management, dedicated to guiding the way to project success. Since 1969, PMI has shone a light on the power of project management and the people behind the projects.
With a global community, gold-standard professional certifications, and career-long learning opportunities, PMI empowers current and aspiring project professionals, as well as organisations, with knowledge and resources to lead effectively and create an impact in the communities they serve. Join PMI in elevating our world – one project at a time.
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