Cairo, Egypt — Raya Information Technology (Raya IT), a leading Egyptian systems integrator, has secured a 1.13 billion EGP ($23.5 million) credit facility from the Industrial Development Bank (IDB) to enhance Egypt’s digital infrastructure and expand access to banking services.
The agreement, signed recently in Cairo, supports Egypt’s Vision 2030 by funding advanced technology projects that drive digital transformation, cybersecurity, and financial inclusion. The financing will strengthen Raya IT’s role in developing the country’s digital economy and modernizing its financial sector.
Hussein Refaie, CEO and Managing Director of IDB, emphasized the bank’s commitment to empowering local firms driving national digitalization.
“Our partnership with Raya IT goes beyond financing — it represents our joint ambition to accelerate innovation and support Egypt’s evolving digital ecosystem.”
Ahmed Khalil, Managing Director of Raya Holding for Financial Investments, added:
“This financing reflects confidence in Raya IT’s capabilities and reaffirms our role as a strategic partner in shaping Egypt’s technological infrastructure. We’re not just keeping pace with digital transformation — we’re helping to define it.”
The new funding follows Raya IT’s recent initiatives to expand data infrastructure and cybersecurity solutions for financial institutions. In 2024, a Raya subsidiary secured $15 million for a Tier III data centre project, reinforcing its long-term commitment to Egypt’s digital evolution.
