Afreximbank provides $36.4m financing to Egyptian firm for Uganda stadium project

African Export-Import Bank (Afreximbank) has approved a US$36.4 million contract financing facility for Egypt’s SAMCO–National Construction Company to construct the Akii Bua Olympic Stadium in Lira, Uganda, ahead of the 2027 Africa Cup of Nations (AFCON).

The facility, issued under Afreximbank’s Engineering, Procurement and Construction (EPC) programme, will support SAMCO in the design, construction, procurement and development of key components for the stadium. Uganda is co-hosting the 2027 AFCON with Kenya and Tanzania.

The agreement was signed in Cairo on October 29, with Mrs Kanayo Awani, Afreximbank’s Executive Vice President for Intra-African Trade and Export Development, representing the bank, while SAMCO Chairman, Eng. Sameh Soliman, signed on behalf of the company.

Awani said the financing demonstrates the bank’s commitment to strengthening African capacity in large-scale infrastructure delivery and to promoting sports infrastructure as part of its creative economy strategy.

“We are pleased to support an African EPC company and to finance the construction of a state-of-the-art stadium,” she said. “This aligns with our goal to foster sustainable economic growth, enhance regional infrastructure and support the hosting of CAF- and FIFA-approved sports events.”

Soliman welcomed the partnership, describing it as a milestone in SAMCO’s expansion across the continent.

“This collaboration reinforces our commitment to delivering impactful infrastructure solutions across Africa,” he said. “We look forward to a long-term relationship that supports growth and sustainable development.”

The Akii Bua Stadium project is expected to boost sports development, tourism and regional integration, while creating jobs and enhancing Uganda’s capacity to host major international sporting events. It is also expected to stimulate local supply chains and improve the country’s global sporting profile.

The facility further strengthens SAMCO’s position as a leading African contractor in executing government-backed infrastructure projects across the continent.

The 2027 tournament will be the first time East Africa hosts AFCON since 1976.