Afreximbank Finances $36.4 Million Stadium Deal Linking Egypt and Uganda’s AFCON Dreams

In a powerful display of intra-African collaboration, the African Export-Import Bank (Afreximbank) has extended a $36.4-million contract financing facility to Egypt’s SAMCO National Construction Company for the development of Uganda’s Akii Bua Olympic Stadium — a venue set to host matches during the 2027 Africa Cup of Nations (AFCON).

The financing, signed in Cairo by Mrs. Kanayo Awani, Afreximbank’s Executive Vice-President for Intra-African Trade and Export Development, and Engineer Sameh Soliman, Chairman of SAMCO, falls under the Bank’s Engineering, Procurement and Construction (EPC) Programme — a flagship initiative empowering African firms to lead major infrastructure projects across the continent.

Building Africa by Africans

Mrs. Awani described the agreement as “a reflection of Afreximbank’s deep commitment to empowering African capacity in executing complex infrastructure developments.”

“Through this EPC initiative, we are financing a state-of-the-art stadium that aligns with our creative and sports strategy, fosters sustainable growth, and enables Uganda to host CAF- and FIFA-approved events,” she said.

SAMCO’s Chairman, Engineer Soliman, echoed the sentiment:

“This partnership strengthens our commitment to deliver impactful infrastructure across Africa. Together with Afreximbank, we’re not just building stadiums — we’re building the continent’s confidence.”

A Stadium for a Continent’s Pride

The Akii Bua Olympic Stadium, located in Lira, northern Uganda, will serve as a cornerstone of the country’s preparation for AFCON 2027, co-hosted with Kenya and Tanzania.
Beyond football, the project is expected to catalyse local job creation, supply-chain growth, and regional tourism, reinforcing Uganda’s ambition to become a sports and cultural hub in East Africa.

It also supports Uganda’s broader development agenda — investing in youth, urban renewal, and national pride — while solidifying SAMCO’s position as one of Africa’s leading contractors for large-scale, government-backed projects.

Financing Africa’s Future

Afreximbank’s investment is more than financial — it’s strategic.
By backing African EPC companies, the Bank is reducing dependence on external contractors and driving industrialisation through intra-African trade.

At the end of 2024, Afreximbank’s total assets exceeded $40 billion, reflecting its expanding role as a pillar of Africa’s economic integration and a champion of the African Continental Free Trade Area (AfCFTA) through mechanisms such as the Pan-African Payment and Settlement System (PAPSS) and the $10 billion AfCFTA Adjustment Fund.

What This Means for Africa

The deal symbolizes a new era of African solutions for African infrastructure — an Egyptian firm constructing a Ugandan stadium with African financing for an African tournament.

It’s not just about football. It’s about continental capability — proving that Africa can design, fund, and deliver its own world-class infrastructure while building institutions strong enough to finance the next generation of regional projects.

As AFCON 2027 approaches, the Akii Bua Stadium stands as a metaphor for the continent itself: young, ambitious, and ready for its moment on the world stage.