Afreximbank Extends $36.4 Million Financing to Egypt’s SAMCO for Ugandan Stadium Project
In 2025, the African Export-Import Bank (Afreximbank) approved a US$36.4 million contract financing facility for Egypt’s SAMCO-National Construction Company (SAMCO). The funds will support the construction of the Akii Bua Olympic Stadium in Lira, Uganda.
The stadium is set to host several matches during the 2027 Africa Cup of Nations, which Uganda will co-host with Kenya and Tanzania as part of a joint East African bid.
Details of the Financing Facility
The financing was provided under Afreximbank’s Engineering, Procurement and Construction (EPC) programme, designed to help African EPC firms compete for and successfully deliver large-scale projects across the continent. The funds will support the design, construction, and development of the Akii Bua Olympic Stadium, including the acquisition of key materials and components required for its completion.
Signing Ceremony and Statements
The facility agreement was signed in Cairo on 29 October. Kanayo Awani, Executive Vice President for Intra-African Trade and Export Development at Afreximbank, represented the bank, while Engineer Sameh Soliman, Chairman of SAMCO, signed on behalf of his company.
Mrs. Awani stated that the agreement demonstrates Afreximbank’s strong commitment to building African capacity in implementing major and complex infrastructure projects.
About the Project
The Akii Bua Olympic Stadium project is named after Ugandan Olympic champion John Akii-Bua and is expected to become a major sports and cultural landmark in Lira, contributing to the region’s infrastructure and economic growth.
Author’s summary: Afreximbank’s $36.4 million facility to Egypt’s SAMCO marks a strategic boost for Africa’s infrastructure drive, supporting Uganda’s 2027 AFCON preparations.