The African Export-Import Bank (Afreximbank) has approved a US$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 facility, granted under Afreximbank’s Engineering, Procurement and Construction (EPC) programme, will enable SAMCO to design, construct, and develop the state-of-the-art stadium ahead of the 2027 Africa Cup of Nations (AFCON), which Uganda will co-host with Kenya and Tanzania.
Mrs. Kanayo Awani, Executive Vice President for Intra-African Trade and Export Development at Afreximbank, reaffirmed the bank’s dedication to supporting African expertise in major infrastructure projects.
“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, further aligning with our creative and sports strategy in one of our member countries, Uganda,” she said.
Afreximbank’s EPC programme aims to empower African engineering and construction firms to bid for and deliver large-scale projects across the continent, promoting self-reliance and intra-African trade.
Engineer Sameh Soliman, Chairman of SAMCO, expressed gratitude for the partnership and highlighted the importance of the collaboration.
“We value Afreximbank’s partnership and support in this landmark project. This collaboration reinforces our strategic commitment to expanding our presence across Africa and strengthening our role in delivering impactful infrastructure solutions. We look forward to a long-term and mutually beneficial relationship with the Bank, driving growth and sustainable development across the continent,” he noted.
The Akii Bua Olympic Stadium project is expected to play a pivotal role in boosting Uganda’s sports infrastructure, promoting tourism, and fostering regional integration in East Africa. Once completed, the facility will enhance Uganda’s capacity to host CAF and FIFA-sanctioned events while contributing to youth empowerment, national pride, and economic diversification.
The project also solidifies SAMCO’s growing reputation as a leading African contractor capable of executing major government-backed infrastructure projects across the continent.
Located in Lira, the Akii Bua Olympic Stadium will be one of the venues for the 2027 AFCON, marking a significant milestone in Uganda’s sports development journey.
