Egypt - Raya IT, a subsidiary of Raya Holding for Financial Investments (RAYA) has signed a cooperation agreement with Huawei Technologies Egypt for the establishment of data centers and clean energy projects, according to a press release filed to the Egyptian Exchange (EGX) on June 9th.

The agreement aims at achieving carbon neutrality and building a greener and more sustainable future according to the Sustainable Development Strategy of Egypt Vision 2030.

Huawei offers digital solutions to over 170 countries and areas, producing 325 billion kilowatt-hours of electricity from renewable energy to date.

It is worth noting that Raya Holding reported a 62.51% year-on-year (YoY) increase in consolidated profits excluding minority interest during the first quarter (Q1) of 2022, recording EGP 45.149 million.

Established in 1999 and listed on EGX in 2005, Raya Holding operates within the software and services sector, focusing on information technology consulting and other services.

It has subsidiaries operating across North America, the British Islands, Northern Africa, Western Africa, and the Middle East.

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