The PMI Global Summit Series Africa wrapped up in Kigali with a resounding message: Africa’s greatest challenge is not a shortage of capital but a shortage of bankable projects. Nearly 1,000 delegates, including AfDB leaders, underscored that poor project preparation is delaying development and widening the $70bn annual infrastructure gap.
Former AfDB president, Dr. Akinwumi Adesina, emphasized that Africa holds 65% of the world’s uncultivated arable land, vast mineral reserves, and 13 of the fastest-growing economies. Yet, he stressed, poorly prepared projects stretch timelines by up to 50% and slow delivery of essential services to millions, including the 600 million Africans still without electricity.
The summit reinforced the need for projects that meet strict technical, financial, and risk management standards to secure financing. A proposed AfDB–PMI alliance could strengthen project management capacity and develop Africa’s next generation of professionals. With Rwanda’s transformation as a backdrop, the Kigali gathering framed Africa’s future not by its resource abundance, but by its ability to prepare, finance, and execute projects that deliver real impact—from renewable energy to regional trade corridors.
