Raya Information Technology, a subsidiary of Raya Holding for Financial Investments, has secured a EGP 1.13 billion (US$23.5 million) credit facility from the Industrial Development Bank (IDB) to accelerate its digital transformation and technology infrastructure projects. The financing, reported by Daily News Egypt, will particularly focus on modernizing Egypt’s banking sector.
Mennan Awadallah, Deputy CEO and Managing Director of IDB, emphasized that the agreement represents more than financing, describing it as a strategic partnership that strengthens Egypt’s digital sovereignty and competitiveness. He noted that collaboration with Raya supports Egypt’s Vision 2030 goals of building a sustainable, inclusive digital economy.
The partnership marks the first deal between IDB and Raya IT and underscores mutual commitment to modernizing Egypt’s financial backbone through cybersecurity, digital banking, and financial inclusion. Raya IT Managing Director Ahmed Khalil called the agreement a strategic endorsement that enables scaling, innovation, and the creation of technology infrastructure critical to national economic growth.
With reported revenues of $557.8 million in 2025, Raya IT is among Egypt’s leading digital transformation providers, offering integrated technology and security solutions. IDB, which posted pre-provision profits of EGP 1.7 billion (US$35.3 million) in 2024, supports development-oriented banking products to advance financial inclusion and digitalization.
The loan not only provides Raya with vital financial resources but also aligns technical expertise and strategic support to implement large-scale digital infrastructure projects that will strengthen Egypt’s fintech and IT landscape.
