Egyptian contractor secures $36 million to build Ugandan stadium for AFCON games

November 7, 2025 in Infrastructure, Investment by Editor

The development of the Akii Bua Olympic Stadium is expected to substantially promote sports in Uganda and to engender regional integration and tourism in East Africa while supporting infrastructure development.

Egyptian contractor, SAMCO-National Construction Company (SAMCO) has secured a $36.4-million financing facility from the African Export-import Bank (Afreximbank) for the construction of the Akii Bua Olympic Stadium in northern Uganda in preparation for hosting the 2027 Africa Cup of Nations (AFCON) games.

Uganda will be hosting the premier football tournament together with Kenya and Tanzania after submitting a successful joint bid to CAF. Afreximbank Executive Vice President, Intra-African Trade and Export Development, Mrs. Kanayo Awani, signed the facility agreement on behalf of the bank in recently Cairo while Engineer Sameh Soliman, Chairman of SAMCO, signed for his company.

She said, “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).

“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 advancement,” Mrs Awani said.

SAMCO Chairman, Engineer Sameh Soliman 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.”

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 also 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.

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 Uganda’s global visibility.