PMI Global Summit Series Africa Calls for Bankable Projects to Unlock $70bn Infrastructure Gap

By The Inspirer.

Africa’s greatest obstacle is not a lack of capital but a lack of bankable projects. That was the central message at the PMI Global Summit Series Africa in Kigali, where African Development Bank (AfDB) leaders and nearly 1,000 delegates agreed that poorly prepared projects remain the biggest barrier to the continent’s transformation.

In his keynote, AfDB President Dr. Akinwumi Adesina said Africa stands at a pivotal moment. With 65% of the world’s uncultivated arable land, abundant critical minerals, and 13 of the fastest-growing economies, the continent is poised to drive global prosperity. “The world is becoming more African,” he said, urging action to close Africa’s $70 billion annual infrastructure gap. “Projects must not just exist on paper. They must change lives.”

Adesina cited AfDB’s High 5 priorities—expanding power access, boosting food security, industrialisation, regional integration, and quality of life—which have already impacted more than 565 million people. From electricity to transport and digital corridors, he stressed that effective projects are the true vehicles of transformation.

PMI echoed this vision. “Project success is not measured only by schedules and budgets, but by outcomes that change lives,” said George Asamani, Managing Director, PMI Sub-Saharan Africa.

Armand Nzeyimana, AfDB’s Director of Development Impact and Results, explained that bankable projects must pass three tests: technical feasibility, financial viability, and strong risk management. Without these fundamentals, he warned, even the most promising ideas fail to secure financing. Poor preparation extends project timelines by up to 50%, delaying critical services for millions—such as the 600 million Africans still without electricity.

The Summit’s theme, Africa On Purpose, was underscored by Kigali’s transformation into a hub for infrastructure, tourism, and innovation. “Kigali shows what is possible when vision meets disciplined execution,” Adesina noted.

A clear consensus emerged: project management is not just a discipline but a strategic enabler of Africa’s future. Embedding PMI’s global standards and certifications into African project delivery can build the capacity needed to execute transformative initiatives at scale.

Adesina proposed a strategic alliance between AfDB and PMI to raise global standards in project execution, blend methodologies, and cultivate the next generation of African project professionals.

As the Summit closed, delegates agreed Africa’s future will be shaped not by its vast resources alone but by its ability to prepare, finance, and deliver projects with excellence—from renewable energy and digital infrastructure to regional trade and urban renewal.