Kampala-Uganda

 Yusra Sukuk Company Limited has been engaed by Ugandan government since April 2026 to be its Consultant/Lead Arranger for its inaugural sovereign Sukuk aimed to raise funds to construct 42 Kilometres of its 272 Kilometres Standard Gauge Rail (SGR) corridor oneto be constructed from Malaba town on its border with Kenya towards its capital city, Kampala. The Ministry of Finance, Planning and Economic Development (MoFPED) is raisng Euro 405 million for the project. 

This new assignment follows Yusra Sukuk successfully leading the Revolutionary Government of Zanzibar (RGoZ) to raise US$ 152 million in tranche one of its inaugural Quasi-Sovereign Sukuk in 2025. This amount was out of US$ 446 million planned to be raised for several infrastructure projects development. This achievement is besides two corporate Sukuk issued under Yusra Sukuk as Lead Arranger., Premier Sukuk (2024) and Fay Sukuk (2026). Yusra Sukuk is the first ever Shari'ah compliant capital market dealer in Sub-Saharan Africa South of Ecquitor and a licensee of CMSA and DSE as Investment Adviser and Securities Dealer. It has been instrumental for the development of Tanzania capital marekts industry.

The sovereign Sukuk is a part of Euro 2.702 billion needed to construct the 272 Kilometres being financed in tripartite model with Export and Credit Agencies (ECAs) pledging 65% of the Euro 2.702 billion, Development Financial Institutions (DFIs) 20% and the government of the republic of Uganda footing in 15% which is the Euro 405.5 million being raised using this sovereign Sukuk. The SGR is a part of East African standard gauge rail network with Kenya and Tanzania already ahead.