David GOMBE
The 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 facility, granted under Afreximbank’s Engineering,
Procurement and Construction (EPC) programme, will support Egypt’s SAMCO-National Construction company in the design, construction, and development of the stadium project.
Mrs Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank, asserted that the bank’s commitment to empowering local capacity in infrastructure development.
“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/sports strategy in one of our member countries (Uganda),” she said.
The programme aims to support African EPC companies to bid for large-scale contracts in African countries.
On his part, Engineer Sameh Soliman, Chairman of SAMCO, said:
“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.”
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 country’s capacity to host CAF- and FIFA-approved events and contributing to national pride, youth engagement and economic diversification.
The project will help consolidate SAMCO’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.
Akii-Bua Olympic stadium is located in Lira and it’s expected to host some of the 2027 Africa Cup of Nations (AFCON) games, which Uganda is co-hosting with Kenya and Tanzania.
