Africa is increasingly being recognised as one of the most important regions for future global growth. With vast natural resources, growing populations, expanding energy needs, and rising demand for infrastructure, the continent continues to attract strong interest from international investors and development institutions.
We sat down with Marcos Ganut, Global Head of Infrastructure and Capital Projects at Alvarez & Marsal, to discuss what is really shaping investment decisions in Africa today and what needs to change for the continent to fully unlock its potential.
According to Ganut, while capital is available globally, the real constraint is not funding but execution. Many projects across Africa struggle not because they lack financial backing, but because they face challenges in delivery, governance, and operational capability.
“The capacity of execution is where we see the biggest gap,” he explained. This gap, he added, is what often determines whether large-scale infrastructure and industrial projects succeed or stall.
Across South Africa and many African economies, businesses are dealing with a combination of structural challenges. Load shedding, logistics inefficiencies, port delays, rising transport costs, and ageing infrastructure all contribute to higher operational expenses. These pressures are not only felt by large corporations but also by small businesses and ordinary consumers through higher prices and reduced economic activity.
Ganut emphasised that improving execution capability is essential to addressing these challenges. Without strong delivery systems, even well-funded projects struggle to achieve their intended impact.
“I think the era of strategy, strategy, strategy is gone. I think it’s now time to execute,” he said, highlighting a shift in how investors evaluate opportunities.
In the past, ambitious national plans and high-level strategies were often enough to attract attention from investors. Today, however, expectations have changed. Investors now want to see evidence that projects can be implemented successfully, with clear timelines, measurable outcomes, and strong accountability structures.
This shift is particularly important in infrastructure-heavy sectors such as energy, transport, mining, and industrial development, where delays or mismanagement can significantly increase costs and reduce investor confidence.
Africa’s importance in the global economy continues to grow, especially as demand increases for critical minerals, energy transition materials, and diversified supply chains. Countries across the continent are positioning themselves as key players in these global shifts. However, the ability to translate opportunity into reality depends heavily on execution strength at both public and private sector levels.
Ganut explained that investors assess far more than just the attractiveness of a project. They look at risk management systems, governance structures, technical capacity, and whether organisations can deliver consistently over time.
Responsible capital deployment has therefore become a central theme in investment discussions. Investors want assurance that funds will be used effectively, projects will be delivered as promised, and risks will be properly managed throughout the project lifecycle.
For South Africans in particular, the impact of these challenges is visible in everyday life. Infrastructure performance directly influences the cost of food, fuel, transport, electricity, and services. When infrastructure systems are inefficient, the entire economy becomes more expensive and less competitive. When they work well, they create jobs, reduce costs, and support broader economic growth.
Ganut also stressed that infrastructure development should not be viewed purely through a financial lens. He believes successful projects must create long-term value for communities, including job creation, skills development, and improved local infrastructure that continues to benefit people well beyond the construction phase.
“There is no question that Africa is a destination for capital today,” he said, noting that global investors continue to see the continent as strategically important.
However, he cautioned that attracting investment alone is not enough. The real differentiator between countries and organisations will be their ability to execute effectively and deliver projects at scale.
He pointed out that many emerging markets that have successfully attracted sustained investment over time did so by strengthening their execution frameworks and building confidence among investors through consistent delivery. Africa, he suggested, can follow a similar path if execution capacity is prioritised.
The conversation also highlighted a broader shift in global investment thinking. While Africa’s strategic importance is widely recognised, investors are increasingly selective. Capital is flowing toward regions and projects that demonstrate stability, predictability, and strong execution track records.
This means that even with strong natural advantages, African countries and organisations will need to compete not only on opportunity but also on delivery capability.
Ganut believes this is where the next phase of Africa’s development will be defined. The continent already has many of the ingredients needed for growth, including resources, demand, and strategic positioning in global supply chains. What remains is building the systems and capabilities required to turn that potential into consistent outcomes.
Ultimately, the message from Alvarez & Marsal is that Africa’s growth story is not constrained by a lack of capital, but by the need to strengthen execution across both public and private sectors. As global competition for investment intensifies, execution will increasingly determine which projects succeed, which countries attract funding, and how quickly development progresses.
The opportunity is significant, but it will be shaped by one critical factor: the ability to deliver.
