The African Development Bank (AfDB) has issued a stern warning that Africa’s economic potential will remain largely untapped unless countries drastically improve the way infrastructure and development projects are conceived, financed, and executed.
This message was delivered at the PMI Global Summit Series Africa, held in Kigali, Rwanda, where nearly 1,000 delegates from across the continent gathered to chart a path toward improved project management and real development impact.
Speaking at the event, AfDB leaders stressed that while Africa boasts unmatched resources and demographic potential, the absence of bankable, well-structured projects continues to delay growth and limit access to financing.
“The world is becoming more African,” said the former President of the AfDB, Akinwunmi Adesina in a statement shared during the summit.
“But unless we deliver technically, financially, and operationally sound projects, our potential will remain just that—potential.”
A Continent of Untapped Power
Adesina noted that Africa is home to 65% of the world’s uncultivated arable land, possesses abundant critical minerals needed for the global energy transition, and hosts 13 of the fastest-growing economies globally. Yet, much of this promise remains unfulfilled due to weak project preparation and execution.
He referenced the Bank’s High 5 development 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.
“Projects must not just sit in glossy brochures or conference rooms,” he said.
“They must deliver power, clean water, transport, and jobs real change.”
In his remarks, Armand Nzeyimana, Director of the AfDB’s Development Impact and Results Department, outlined what makes a project bankable:
- Proven technical feasibility
- Strong financial models
- Solid risk mitigation strategies
“Without these core elements,” Nzeyimana warned, “even the most visionary ideas cannot attract the financing needed to bring them to life.”
He revealed that many poorly designed projects across the continent suffer delays of up to 50%, resulting in budget overruns and diminished developmental outcomes.
“The cost of delay is not just financial; it is social and economic.
Today, 600 million Africans still live without electricity. That will not change unless we execute better.”
Rwanda’s capital, Kigali, was held up as an example of successful project execution. Delegates pointed to its transformation into a hub for tourism, innovation, and infrastructure, made possible through disciplined planning and strong institutional leadership.
“Kigali proves what is possible when vision is matched with capacity and delivery,” Adesina added.
Delegates and project professionals agreed that Africa’s transformation hinges on embedding global project management standards, investing in certification, and upskilling public and private sector players.
Adesina called for a formal alliance between the AfDB and the Project Management Institute (PMI) to raise delivery standards and support the development of the next generation of African project professionals.
“Even as I near the end of my tenure, I see a powerful opportunity for AfDB and PMI to forge a strategic alliance,” he said.
“Together, we can blend global standards with African realities and build the project leaders of tomorrow.”
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