The African Export-Import Bank (Afreximbank) has approved a $36.4 million contract financing facility to Egypt’s SAMCO–National Construction Company (SAMCO) for the construction of the Akii Bua Olympic Stadium in Lira, Uganda.
The 30000-seater stadium is one of Uganda’s major infrastructure projects ahead of the 2027 Africa Cup of Nations (AFCON), which the country will co-host with Kenya and Tanzania.
The financing, granted under Afreximbank’s Engineering, Procurement and Construction (EPC) Programme, will support SAMCO in the design, construction, and procurement of key components for the project. The EPC initiative is designed to empower African contractors to compete for and deliver large-scale infrastructure projects across the continent.
The agreement was signed in Cairo on October 29, by Mrs. Kanayo Awani, Executive Vice President for Intra-African Trade and Export Development at Afreximbank, and Engineer Sameh Soliman, Chairman of SAMCO.
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Mrs. Awani said the deal underscores Afreximbank’s commitment to building African capacity for executing major infrastructure projects.
“We are pleased to support an African EPC company and finance a state-of-the-art stadium in Uganda. This aligns with our creative and sports strategy, fostering economic growth, regional integration, and the hosting of CAF and FIFA-approved events,” she said.
Engineer Soliman described the partnership as a milestone for SAMCO’s continental expansion.
“Afreximbank’s support strengthens our mission to deliver impactful infrastructure across Africa. We look forward to a long-term, mutually beneficial partnership,” he stated.
The Akii Bua Stadium project is expected to boost sports development, tourism, and regional integration in East Africa while generating employment opportunities and stimulating local supply chains. It will also enhance Uganda’s ability to host major international tournaments and reinforce national pride and youth engagement.
The 2027 AFCON will be the first time in over four decades that East Africa hosts the continental tournament, marking a major milestone for regional sports infrastructure.
