The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEI) has announced its contribution to the construction of the Akii Bua Olympic Stadium, a multi-purpose sports facility located in Lira, Uganda.
The transaction is backed by ICIEC’s STP, a contract frustration policy, effective 1 January 2026, with a tenure of 1.5 years. SAMCO-Egypt acts as the policyholder. The project benefits from insurance coverage of $65m, with a risk coverage of 90%.
The Akii Bua Olympic Stadium, presently under construction, is intended to be used for the first time in the 2027 Africa Cup of Nations, which will be jointly hosted by Kenya, Tanzania and Uganda. The stadium is one of three stadia that Uganda plans to use during the tournament.
Beyond its role in sports, the project is set to contribute to broader socioeconomic development by enhancing community infrastructure and supporting economic activity linked to large-scale events.