Pan-African infrastructure investor and asset manager Africa50 has announced a US$15 million investment in Raya Data Centre (RDC), a leading system integrator in MEA.
The investment, which is subject to regulatory approvals, will strengthen RDC’s existing operations and fund the development of a greenfield Tier III data centre in Egypt, in turn, according to Africa50, driving the country’s digital economy and startup ecosystem.
Africa50 notes that the data centre industry in Egypt requires substantial investment, driven by high demand amid the country's growing digital economy and internet usage.
Since its establishment in 2012, RDC has earned a strong reputation as a reliable provider of colocation and cloud services to both local and international enterprise customers.
RDC, which is wholly owned by Egypt Exchange-listed conglomerate Raya Holding, currently operates two Tier III data centres in Cairo.
The new equity financing not only allows RDC to sustainably expand its capacity but also provides an opportunity for the company to leverage Africa50’s data centre expertise and networks across the continent.
Ahmed Khalil, CEO of Raya Holding, says: "Egypt's data centre market is brimming with potential, with an expected annual growth rate of 12.8% until 2030. Through Raya Data Centre, we are committed to meeting the region's increasing demand for digital services and playing a pivotal role in the digital transformation of Egypt and beyond.”
Raza Hasnani, managing director and head of infrastructure investments at Africa50, adds: “This investment is a key building block in our fast-growing pan-African data centre portfolio. RDC’s current and future data centres will not only support the Egyptian government’s digitisation push but also provide the necessary digital infrastructure on which the country’s thriving SME and startup ecosystem can build.”
He also cites Raya Holding’s commitment to reducing emissions by transitioning to renewable energy which, he says, aligns perfectly with Africa50’s commitment to building sustainable economies and investing in climate-resilient infrastructure.
He concludes: “The investment positions RDC to attract international hyperscale customers in North Africa, the Middle East and Europe, given Egypt’s strategic location.”