African Export-import Bank ( Afreximbank ) has extended a US$36.4 million contract financing facility to Egypt’s 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 games, which Uganda is co-hosting with its East African neighbours Kenya and Tanzania.

The financing, granted under Afreximbank’s engineering, procurement and construction ( EPC ) programme, which supports African EPC companies to bid for large-scale contracts in African countries, will support Samco in the design, construction, and development of the stadium and in the acquisition of essential components for the successful execution of the project.

“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 )“, says Kanayo Awani, executive vice president, intra-African trade and export development at Afreximbank. 

“Through this initiative, we aim to foster sustainable economic growth, enhance regional infrastructure, and facilitate the hosting of the [Confederation of African Football and Fédération Internationale de Football]-approved sports events that will contribute to Uganda’s social and economic advancement.”