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 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 Kenya and Tanzania.
- •The financing will finance SAMCO in the design, construction and development of the stadium project and in the acquisition of essential components.
- •The 2027 AFCON games will mark the first time the continental tournament will be hosted in East Africa since 1976 when it was hosted by Ethiopia.
"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," Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank said.
While initial reports indicated the three countries would each provide three stadiums in two cities, the scope of the tournament has since expanded to more cities. Tanzania is constructing two stadiums, the 30,000-seater Samia Suluhu Hassan Stadium in Arusha, and the 32, 000-seater Dodoma Stadium in Dodoma. Kenya is constructing the 60,000-seater Talanta Sports Stadium.
In addition to Akii Bua, Uganda is also constructing a 20,000-seater stadium in Hoima.