Transaction Summary
Africa50, through its Infrastructure Acceleration Fund (IAF), has invested $15 million for a 42.9% equity stake in Raya Data Center (RDC), a subsidiary of Raya Information Technology (Raya IT), part of Raya Holding for Financial Investments. The investment is part of a larger funding round totalling $25 million, which includes a $10 million debt contribution from Raya IT, valuing RDC at approximately $35 million. The funds will support the development of a certified Tier III greenfield data centre in Egypt, with construction scheduled to begin in January 2025. The data centre will cater to hyperscalers, addressing the growing regional demand for massive computing power and data storage from large cloud service providers or tech companies. The investment was made through Africa50’s IAF, a 12-year closed-end infrastructure fund, which raised $250 million in its first close toward a $500 million target in 2023. The fund takes equity and quasi-equity majority stakes
