Afreximbank Funds $36.4m Stadium Project in Uganda
The African Export–Import Bank (Afreximbank) has extended a US$36.4 million contract financing facility to Egyptian firm SAMCO–National Construction Company (SAMCO) to support the construction of the Akii Bua Olympic Stadium in Lira, Uganda.
The stadium is expected to host matches during the 2027 Africa Cup of Nations (AFCON), which Uganda will co-host with Kenya and Tanzania – marking the first time the tournament returns to East Africa since 1976.
The financing, issued under Afreximbank’s Engineering, Procurement and Construction (EPC) programme, will enable SAMCO to design, develop, and construct the state-of-the-art facility, as well as procure essential components required for its completion.
The facility agreement was signed in Cairo on 29 October by Mrs Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank, and Engineer Sameh Soliman, Chairman of SAMCO.
Mrs Awani said the deal reflected Afreximbank’s commitment to empowering African companies to deliver large-scale infrastructure across the continent.
“We are pleased to support an African EPC company and finance a world-class stadium that aligns with our creative and sports strategy. This initiative will foster sustainable growth, strengthen regional infrastructure and support the hosting of CAF and FIFA-approved events that will contribute to Uganda’s social and economic advancement,” she said.
Engineer Soliman welcomed the partnership, saying it would help expand SAMCO’s footprint across Africa. “This collaboration reinforces our commitment to delivering impactful infrastructure solutions across the continent. We value Afreximbank’s support and look forward to a long-term, mutually beneficial relationship,” he noted.
The Akii Bua Olympic Stadium is expected to boost sports development, tourism and regional integration in East Africa, while supporting Uganda’s ambition to host major international events. The project is also expected to create jobs, stimulate local supply chains and enhance the country’s global sporting profile.
With the 2027 AFCON set to return to the region after nearly five decades, the stadium will form a key pillar in Uganda’s sports and infrastructure agenda, strengthening national pride, youth engagement and economic diversification.
