Africa50, the pan-African infrastructure investor and asset manager, this week announced a $15m equity investment in RDC to fund the development of a greenfield Tier III-quality data center in Egypt. A Raya Holding stock exchange filing notes through the investment, Africa50 will acquire a 42.9 percent stake in RDC.
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.”
Ahmed Khalil, CEO of Raya Holding, said: "We are thrilled to announce this strategic partnership with Africa50, which highlights the confidence investors have in Raya Holding’s vision and success in building a diverse portfolio of investments in high-potential sectors. Through Raya Data Center, 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.”
