Africa’s infrastructure gap rooted in weak early-stage project pipeline – Awofala

Africa’s long-standing infrastructure deficit is increasingly being driven not by a lack of capital, but by a shortage of bankable, investment-ready projects, according to Femi Awofala, programme director and managing director of African Catalyst Limited.

Awofala said during the recently concluded Enabling Early-Stage Infrastructure Investing (EESII) 2.0 programme.

The initiative, which ended on March 26, brought together project developers, financiers, investors, and legal experts across the continent to tackle a critical bottleneck: why many infrastructure ideas fail to progress beyond the concept stage despite abundant global liquidity.

While Africa has traditionally framed its infrastructure challenge as a financing gap, stakeholders at the programme argued that the deeper issue lies in weak early-stage project development capacity, including poor structuring, inadequate risk allocation, and limited stakeholder alignment.

“The biggest constraint to infrastructure development in Africa is no longer just access to capital—it is the shortage of well-prepared, investment-ready projects,” Awofala said.

According to Awofala, the early phase of infrastructure projects remains the most critical, as weak foundations often prevent projects from attracting investment or reaching financial close.

EESII 2.0 sought to address this by shifting focus from funding availability to project readiness. Participants underwent intensive, hands-on sessions covering project preparation frameworks, risk mitigation strategies, public-private partnerships, and climate-resilient infrastructure models.

The programme also emphasised infrastructure’s broader role in driving inclusive growth, job creation, and long-term economic resilience, rather than viewing it solely as an asset class.

Discussions highlighted the importance of embedding social considerations such as gender inclusion into infrastructure planning and financing to ensure more equitable development outcomes across African economies.

Through case-based learning and cross-sector collaboration, the initiative aimed to strengthen networks among stakeholders and foster partnerships capable of delivering large-scale projects.

The conclusion of EESII 2.0 reflects a broader shift in Africa’s infrastructure narrative—from a reactive focus on financing gaps to a proactive push for stronger project preparation and ecosystem development.

Stakeholders say closing the continent’s infrastructure gap will depend not only on mobilising capital but also on building a consistent pipeline of credible, well-structured projects that can attract investment at scale.