Emma Okonji

The PMI Global Summit Series Africa, which held recently in Kigali, Rwanda, has emphasised that poorly prepared projects in Africa, remain the biggest barrier to the continent’s transformation.

According to expert views from the summit, Africa’s greatest obstacle is not a shortage of capital but a shortage of bankable projects.

The Summit, the largest of its kind on the continent, served as a 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 address, the former president, African Development Bank (AfDB), Dr. Akinwumi Adesina, said Africa remained at a pivotal moment in history.

According to him, “The world is becoming more African. One in four people on the planet will soon be African. With 65 per cent 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.”

To realise this potential, he said Africa must close its infrastructure gap, estimated at $70 billion annually, and ensure that projects deliver real impact.

Managing Director, PMI sub-Saharan Africa, George Asamani, said: “Africa’s future will be shaped not by the number of projects we launch, but by the impact those projects deliver.”

Director, Development Impact and Results Department at the AfDB, Armand Nzeyimana, spotlighted the persistent obstacle about the shortage of well-prepared, bankable projects.

According to him, 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.

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