The African Export-Import Bank (Afreximbank) has approved a US$36.4 million contract financing facility for Egypt’s SAMCO-National Construction Company (SAMCO) to build Uganda’s Akii Bua Olympic Stadium, one of the venues set to host the 2027 Africa Cup of Nations (AFCON).
Located in Lira, northern Uganda, the stadium will play a key role as the country co-hosts the tournament alongside Kenya and Tanzania. The financing falls under Afreximbank’s Engineering, Procurement and Construction (EPC) programme, which helps African contractors compete for and execute large-scale projects across the continent.
The funds will support SAMCO in the design, construction, and delivery of the stadium, including the procurement of materials and components required for completion.
Mrs. Kanayo Awani, Afreximbank’s Executive Vice President in charge of Intra-African Trade and Export Development, signed the agreement in Cairo, while SAMCO Chairman Engineer Sameh Soliman represented the company.
Mrs. Awani said the facility underscores Afreximbank’s commitment to empowering African firms to deliver major infrastructure projects that drive growth and regional integration.
“We are pleased to support an African EPC company as part of Afreximbank’s EPC initiative, and to finance the construction of a state-of-the-art stadium,” she said.
Engineer Soliman welcomed the partnership, describing it as a milestone that strengthens SAMCO’s expansion across Africa and its ability to deliver high-impact projects. He added that the collaboration reflects the company’s long-term vision to support sustainable development on the continent.
The Akii Bua Stadium is expected to boost sports, tourism, and economic activity in Uganda, while supporting the government’s infrastructure agenda. Afreximbank said the project will also create jobs, strengthen local supply chains, and enhance Uganda’s capacity to host international sporting events.
Beyond Uganda, the deal aligns with Afreximbank’s broader strategy to promote African contractors and integrate sports infrastructure into the continent’s economic development plans.
The 2027 AFCON will mark the first time East Africa has hosted the tournament since 1976.
