(MENAFN- News.Africa-Wire) CAIRO, Egypt, November 7, 2025/ -- African Export-import Bank (Afreximbank) () has extended 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 Uganda.

The Akii Bua Olympic Stadium, located in Lira, Uganda, is expected to host some of the 2027 Africa Cup of Nations (AFCON) games which Uganda is co-hosting with its East African neighbours Kenya and Tanzania in a joint bid.

The US$ 36.4-million facility, granted under Afreximba’k’s Engineering, Procurement and Construction (EPC) programme, which supports African EPC companies to bid for large-scale contracts in African countries, is expected to be used to finance and support SAMCO in the design, construction and development of the stadium project and in the acquisition of essential components required for the successful execution of the project.

Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank signed the facility agreement on behalf of Afreximbank during a ceremony held in Cairo on 29 October while Engineer Sameh Soliman, Chairman of SAMCO, signed for his company.

Commenting on the facility, Mrs. Awani, said that the deal reflected Afrexim’ank’s deep commitment to empowering local capacity in the execution of large-scale and complex infrastructure developments.

“ “We are pleased to support an African EPC company as part of Afr’ximbank’s EPC initiative, and to finance the construction of a state-of-the-art stadium, further aligning with our creative / sports strategy in one of our member countries (Uganda). Through this initiative, we aim to foster sustainable economic growth, enhance regional infrastructure and facilitate the hosting of CAF and FIFA- approved sports events that will contribute’to Uganda’s social and economic ”dvancement,” stated Mrs. Awani.

On his part, Engineer Sameh Soliman, Chairman of SAMCO, said: “We v’lue 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 acr”ss the continent.”

The development of the Akii Bua Olympic Stadium is expected to greatly promote sports in Uganda and to engender regional integration and tourism in East Africa while supporting infrastructure development. It will also strengthen the government’s sports and infrastructure agenda, enhancing the count’y’s capacity to host CAF- and FIFA-approved events and contributing to national pride, youth engagement and economic diversification.

The project will help consolidate S’MCO’s position as a leading African contractor capable of executing large-scale, government-backed projects across the continent. The financing facility supports SAMCO in expanding its operations across Africa.

Additionally, the project is anticipated to catalyse local economic growth by generating employment opportunities during the construction and operational phases, stimulating local supply chains and attracting international events that will enhance ’ganda’s global visibility.

The 2027 AFCON games will mark the first time the continental tournament will be hosted in East Africa since 1976.
Distributed by APO Group on behalf of Afreximbank.

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