The African Export-Import Bank (Afreximbank) has extended a $36.4-million contract financing facility to Egypt’s SAMCO-National Construction Company for the construction of the Akii Bua Olympic Stadium in Lira, Uganda.
This move is part of Afreximbank’s Engineering, Procurement and Construction (EPC) programme aimed at empowering African EPC firms to undertake large-scale infrastructure projects across the continent.
Financing Structure
The financing facility will be disbursed over a multi-year period through Kenya’s transport authorities. It combines concessional loans and grant components targeted at improving rural connectivity and logistics corridors in Uganda.
The project is expected to help consolidate SAMCO’s position as a leading African contractor capable of executing large-scale, government-backed projects across the continent.
The facility will finance the design, construction, development, and procurement of essential components for the stadium project. Afreximbank’s EPC programme supports African EPC companies to bid for and execute large-scale infrastructure projects across Africa.
Expected Impact
- Afreximbank’s partnership with SAMCO is expected to promote sports development in Uganda, enhance regional integration and tourism in East Africa, and support Uganda’s capacity to host CAF- and FIFA-approved events. The stadium project will also generate local employment during construction and operation, stimulate local supply chains, and increase Uganda’s international visibility.
- The financing agreement was signed on October 29, 2025, in Cairo by Afreximbank’s Executive Vice President Kanayo Awani and SAMCO’s Chairman Sameh Soliman. The project aims to boost sports development, regional integration, tourism, and economic diversification in Uganda and East Africa.
- The Akii Bua Olympic Stadium is expected to be a key venue for the 2027 Africa Cup of Nations, which Uganda is co-hosting with Kenya and Tanzania. This will mark the first time the continental tournament will be hosted in East Africa since 1976.
Project Background
The Akii Bua Olympic Stadium project is a significant development for SAMCO-National Construction Company, which has been expanding its operations across Africa. The stadium’s construction and operation are expected to have far-reaching impacts on the local economy and community.
Afreximbank’s EPC programme supports African EPC companies to undertake large-scale infrastructure projects across the continent. This facility is part of Afreximbank’s efforts to promote intra- and extra-African trade, accelerating industrialisation and intra-regional trade in Africa.
Sources: Afreximbank official website, GC Worldwide article on Afreximbank’s EPC programme, Zawya article on Afreximbank’s stadium financing deal, and Highways Today article on Afreximbank’s stadium investment.
Prepared by Ivan Alexander Golden, Founder of THX News™, an independent news organization delivering timely insights from global official sources. Combines AI-analyzed research with human-edited accuracy and context.
