African financial institutions and policymakers have called for urgent reforms to how digital projects are funded, warning that weak coordination and poor project pipelines are slowing the continent’s digital transformation.
High costs of capital, limited risk-sharing mechanisms, currency risks, and insufficient early-stage financing continue to inhibit investment in digital infrastructure and innovation ecosystems. These challenges are further compounded by gaps in project preparation and the limited availability of bankable investment opportunities.
The call was made during a high-level session held alongside the United Nations Economic Commission for Africa Conference of African Ministers of Finance, at GITEX Africa summit, in Morocco, where public and private sector leaders discussed how to unlock large-scale financing for technology and innovation.
Participants said Africa is not short of capital, but struggles to channel funds into viable digital projects due to structural gaps.
Hanan Morsy, deputy executive secretary (Programme) and chief economist at the United Nations Economic Commission for Africa, emphasized; “Africa’s innovation challenge is not a shortage of ideas, but a shortage of long-term, affordable, and well-structured financing. Addressing this will be critical to unlocking productivity, job creation, and structural transformation across the continent.”
Officials also pointed to a shortage of well-prepared, bankable projects as a major barrier. This has created a disconnect between available capital and actual investment on the ground.
Haytham Elmaayergi, executive vice president-Global Trade Bank at African Export-Import Bank, noted; “One of Africa’s key challenges is not a lack of capital, but a shortage of bankable projects and stronger institutional collaboration to scale investment.”
Industry leaders said improving project preparation and building a stronger pipeline of investment-ready projects are critical to unlocking funding at scale.
They also called for more innovative financing models, including blended finance and risk-sharing tools, to better support early-stage technology ventures.
Adeniran Aderogba, president and CEO of Regional Maritime Development Bank, stated: “In the technology space, risk is harder to structure. We need more creative financing models and dedicated funds to support early-stage innovation.”
The discussions highlighted that digital transformation goes beyond technology alone and requires broader investments in infrastructure, energy, and connectivity systems.
Robert Lisinge, a director at the economic commission, said building a strong innovation ecosystem will depend on coordinated investments across sectors.
Experts warned that without stronger collaboration among African financial institutions, governments, and development partners, the continent risks missing out on the economic gains of digitalisation, including job creation and productivity growth.
The session ended with a call for practical steps to lower financing costs, expand co-financing structures, and mobilise long-term capital.
It also stressed the need to place African multilateral financial institutions at the centre of funding the continent’s digital future, as part of efforts to strengthen Africa’s financial architecture and reduce reliance on external capital.
