Raya Holding & Africa50 Join to Build Tier III Data Center in Egypt

Raya Holding for Financial Investments, listed on the EGX, announced on Monday that Africa50, an investor from Morocco, will put $15 million into Raya Data Centre (RDC).

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RDC’s parent company, Raya Information Technology, which is fully owned by Raya Holding, will add $10 million to the same project.
The money will be used to build a new Tier III data center in Egypt. Raya Holding said that construction will start in early 2025.

The total $25 million, along with money from other investors, will make RDC’s total value more than 2.2 billion Egyptian pounds (about $44 million), according to the statement.

The new data center will provide cloud computing services and other new digital technologies. It will also focus on saving energy and using eco-friendly methods to protect the environment.

Hisham Abdelrasoul, CEO of Raya Information Technology, said, “Raya Data Centre will support industries like healthcare, real estate, manufacturing, banking, and government.”

The full size of the new data center has not been shared yet.
This funding comes after another company owned by Raya Holding, called Raya Foods, raised $40 million with Helios Investment Partners in October 2024. This money will be used to improve food production and exports.

Abdelrasoul said that Egypt is still a strong country for business even though energy costs are rising. He also talked about a new law to protect data. This law will keep data safe but also make it easy to use when needed.

Ahmed Khalil, CEO of Raya Holding, said that working with Africa50 is an important step in improving technology in Egypt and making the country a leader in technology in the region.

This new investment will bring better technology, create new jobs, and improve Egypt’s roads, buildings, and services.

Dec. 11, 2024 11:12 a.m. 452

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