A key part of our vision is that we are determined to keep growing our business, in lean times as well as in prosperous ones. In 2016, while battling the toughest conditions our economy has ever witnessed, Raya searched for new investment opportunities and joined new industries.
Last year witnessed the birth of three new ventures—Raya Foods, Raya Manufacturing & Exports, and Aman Retail and Consumer Finance. These new initiatives demonstrate how Raya continues to actively generate long-term value for shareholders. Over the course of the year, we enhanced productivity and strengthened operations while embracing economic changes.
Our overall goal is to keep gaining market share and ultimately contribute to a rising national economy
We continued to deliver growth that was steady, competitive and responsible in 2016. This Annual Report highlights our achievements over the course of the year and how they moved us closer to turning our vision into a reality. We took steps to establish our food manufacturing business by acquiring a factory to produce and distribute frozen fruits and vegetables. Building on the strong operations of Aman for Electronic Payments, we launched Aman for Financial Services, a retail chain providing Teleco products in addition to a range of consumer financial services. Raya Contact Center had an incredible year. It successfully achieved its five-year strategic plan, expanding into several new key markets in Eastern Europe, Africa and elsewhere in the Middle East, with the potential to expand to Asia and Latin America in 2017 and 2018. Last year marked a new level of success and maturity for the Contact Center, a phase that paved the way for an initial public offering. Meanwhile, Raya Information Technology reported record revenue in 2016, doubling its targets. The merger of Raya Data Center and Raya Information Technology was executed with maximum synergy, benefiting both business lines and—most importantly—our customers. Raya Restaurants also expanded significantly thanks to the tremendous success of Ovio. The brand now boasts branches around Cairo, and we hope to roll it out on a regional level.
In 2017, we are placing a special focus on manufacturing and exports as well as consumer finance. The outstanding performance of all our business lines makes us confident that we are achieving something of real value for everyone. Positively impacting the lives of both our customers and employees is how we at Raya define success. The market remains full of opportunities, and we always seek to grow more aggressively. As always, Raya’s solid infrastructure depends on empowering employees to treat the firm as their own. We understand that while great achievements mean taking risks, a well-prepared company will always win.