KIGALI, Sept. 11 (AGCNewsNet) – Africa’s economic growth will remain constrained unless governments and institutions improve the design and execution of development projects, the African Development Bank (AfDB) has cautioned.

Speaking at the PMI Global Summit Series Africa in Kigali, AfDB officials and nearly 1,000 delegates argued that the continent’s vast potential will remain untapped without stronger planning, bankable projects, and professional project management.

“The world is becoming more African,” former AfDB president Akinwumi Adesina said in a statement, noting that one in four people globally will soon be African. With 65% of the world’s uncultivated arable land, abundant critical minerals, and 13 of the fastest-growing economies, he said Africa is well-positioned to drive global prosperity — but only if projects are technically, financially, and operationally sound.

Adesina pointed to the AfDB’s “High 5” priorities — Light Up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve Quality of Life — which he said have already impacted more than 565 million people. “Projects must not just exist on paper,” he added. “They must change lives.”

Armand Nzeyimana, Director of the AfDB’s Development Impact and Results Department, told delegates the continent faces a critical shortage of bankable projects. A bankable project, he explained, must meet three criteria: proven technical designs, financial viability with clear revenue models, and strong risk management to mitigate political, currency, and market risks.

“Without these fundamentals, even the most noble intentions cannot secure the financing needed to move from paper to reality,” Nzeyimana said. He warned that poorly prepared projects often face delays of up to 50%, undermining their impact.

“The cost of delay is not just financial; it is developmental,” he added. “Today, 600 million Africans remain without electricity. That statistic will not change without bankable projects.”

Delegates highlighted Rwanda as a model for purposeful execution. Kigali’s rapid infrastructure development and growing role as a hub for innovation and tourism showed what disciplined planning can achieve, according to AfDB.

The summit, Africa’s largest gathering of project management professionals, also underlined project management as a strategic enabler of transformation. Embedding global standards and certifications, participants said, is critical to delivering initiatives at scale.

Adesina proposed a deeper alliance between the AfDB and the Project Management Institute to raise project delivery standards across the continent.

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