Africa50, an investment firm, has announced an investment in Raya Data Centre (RDC), subject to regulatory approvals, aimed at strengthening RDC’s operations and financing the development of a new greenfield Tier III data centre in Egypt. This investment is expected to enhance the country’s digital economy and support its growing startup ecosystem.
The data centre industry in Egypt is facing substantial investment needs due to the high demand driven by the country’s expanding digital economy and increasing internet usage. Since its founding in 2012, RDC has built a strong reputation as a reliable provider of colocation and cloud services for both local and international enterprise clients. RDC is fully owned by Raya Holding, a conglomerate listed on the Egypt Exchange, and currently operates two Tier III data centres in Cairo.
The new equity funding will enable RDC to expand its capacity sustainably and leverage Africa50’s expertise and networks in the data centre sector across the African continent.
Ahmed Khalil, CEO of Raya Holding, highlighted the growing potential of Egypt’s data centre market, with an annual growth rate projected at 12.8% through 2030. He emphasized that RDC is dedicated to meeting the rising demand for digital services in the region and playing a significant role in Egypt’s digital transformation and beyond.
Raza Hasnani, managing director and head of infrastructure investments at Africa50, noted that this investment is a key component in expanding their pan-African data centre portfolio. He also pointed out that RDC’s data centres will support Egypt’s national digitisation efforts and provide crucial infrastructure for the country’s flourishing small and medium-sized enterprises (SMEs) and startups.
Additionally, Hasnani mentioned that Raya Holding’s commitment to transitioning to renewable energy aligns with Africa50’s focus on sustainable economies and climate-resilient infrastructure. This investment is poised to position RDC to attract international hyperscale customers from North Africa, the Middle East, and Europe, leveraging Egypt’s strategic location.