Success in human capacity building in IS1 projects in developing economies is crucial in the face of myriads of challenges. Specifically lack of skills, failures of retaining, lack of producing quality and competent personnel, brain drain, low level of IT literacy, etc. remain significant obstacles. In this study, a model is proposed, as alternative tool, that draws on ecosystem theory, the application of capital flow analysis and critical realist data analysis framework, to identify mechanisms to develop an understanding of human capacity building in IS projects. Cases were taken from university-wide network and software development initiatives in Addis Ababa University, Ethiopia, and from continued efforts that realized the Ethiopian Educational and Research Network (EthERNet). Data collection was via interviews, observation and archival data. The analysis of the cases demonstrates the value of capital flow analysis to inform IS project managers for stimulating initial and continued human capacity building in a developing economy.