Raya Holding Announces $15 Million Investment in Raya Data Center from Africa50 to Build a Tier III Data Center in Egypt

Cairo, Egypt, December 10, 2024:

Raya Holding for Financial Investments has announced a strategic $15 million investment in Raya Data Center (RDC), a subsidiary of Raya Information Technology, led by Africa50, the pan-African infrastructure investor and asset manager. This investment is complemented by an additional $10 million from Raya Information Technology, bringing the total to $25 million. The funding will support the construction of a new Tier III data center in Egypt, aimed at accelerating the country’s digital transformation, enhancing its position as a regional technology hub, and meeting the growing demand for advanced data capacity and cloud computing services across the region. Following this investment, Raya Data Center market valuation will exceed EGP 2.2 billion, underscoring its strong market presence and sustainable growth strategy.

The new data center is set to become one of the top certified Tier III facilities in Egypt, with construction slated to begin in early 2025. This strategic partnership between Raya Data Center and Africa50 reflects a shared commitment to addressing digital infrastructure gaps across the continent. Additionally, the data center will align with global Sustainable Development Goals by incorporating eco-friendly and energy-efficient practices throughout its construction and operation, promoting green infrastructure and fostering long-term sustainability.

Commenting on the partnership, Ahmed Khalil, CEO of Raya Holding, said: ” We are happy to announce this strategic partnership with Africa50, which underscores investor confidence in Raya Holding’s vision and technological abilities. This partnership marks a key milestone in advancing Egypt’s digital infrastructure and positioning the country as a regional technology hub. It reflects a shared commitment to innovation, enhancing digital connectivity, and driving sustainable growth across vital industries.”

He continued: “With the development of a new Tier III data center, Raya Data Center is set to address the pressing need for reliable, scalable, and certified digital infrastructure in Egypt and Africa. This investment reaffirms Raya Holding’s dedication to driving transformative projects that create long-term value for our stakeholders, fuel economic progress, and align with global sustainability goals.

Eng. Hisham Abdelrasoul, CEO of Raya Information Technology, emphasized: “At Raya Information Technology, we prioritize entrepreneurship in digital transformation. We are dedicated to delivering integrated solutions that cater to our customers’ evolving needs in today’s fast-paced digital world.” He further added: “Raya Data Center is committed to providing a world-class cloud infrastructure, marked by exceptional security and reliability. This partnership with Africa50 will significantly bolster our ability to support digital economic growth and drive innovation, ensuring the sustainable delivery of critical services with unmatched efficiency.”

Raza Hasnani, Managing Director and Head of Infrastructure Investments at Africa50 said “We are delighted to enter one of Africa’s largest data center markets alongside a proven operator such as Raya Data Center. This investment is a key building block in our fast-growing pan-African data center portfolio. RDC’s current and future data centers will not only support the Egyptian government’s digitization push but also provide the necessary digital infrastructure on which the country’s thriving SME and startup ecosystem can build. Raya Holding’s commitment to reducing emissions by transitioning to renewable energy aligns perfectly with Africa50’s commitment to building sustainable economies and investing in climate-resilient infrastructure. The investment positions RDC to attract international hyperscale customers in North Africa, the Middle East and Europe, given Egypt’s strategic location.”

It’s worth noting that, this investment follows a recent $40 million funding round for Raya Foods, another portfolio company of Raya Holding, in partnership with Helios Investment Partners, aimed at boosting food production and exports. These consecutive investments reflect international confidence in Raya Holding’s portfolio and its steadfast commitment to innovation and sustainable growth across multiple sectors. They further highlight Raya Holding’s capability to attract significant foreign investments, reinforcing its position as a regional leader in the business landscape.

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About Raya Data Center

Established in 2012 under Raya Information Technology, Raya Data Center leads the regional data services sector by empowering organizations through innovative digital solutions and enhanced customer service. It offers a comprehensive range of services, including public and private cloud hosting across diverse industries in the Middle East and Africa.

About Africa50:

Africa50 is a pan-African infrastructure investor and asset manager that contributes to Africa’s growth by developing and investing in bankable projects, catalyzing public sector capital, and mobilizing private sector funding, with differentiated financial returns and impact. Africa50 currently has 35 shareholders, comprised of 32 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib. For more information, visit: africa50.com