Egypt’s Raya IT secures $23.5Mn IDB loan for digital push
CAIRO, EGYPT — The Industrial Development Bank (IDB) has extended a EGP 1.13 billion (US$23.5 million) credit facility to Raya Information Technology, a subsidiary of Raya Holding for Financial Investments.
Daily News Egypt reports that this strategic financing is earmarked to bolster Raya’s initiatives in digital transformation and advanced tech infrastructure, specifically targeting modernization within Egypt’s banking sector.
IDB loan fuels Egypt’s digital transformation agenda
This significant funding is a direct investment in the technological sovereignty and the economic future of Egypt.
“This agreement opens the door to deeper collaboration and reinforces our commitment to building strategic, long-term partnerships with key players like Raya Holding,” said Mennan Awadallah, Deputy Chief Executive Officer (CEO), Managing Director, and Board Member of IDB.
The strategic move is in accordance with and encourages the Egyptian Vision 2030, which is a national agenda to develop a sustainable and inclusive digital economy.
The alliance is not merely a lender-borrower affair; it is a joint initiative to modernize the country’s financial backbone.
Through focusing on international tendencies, including the trends in cybersecurity, digital banking, and financial inclusion, the partnership directly results in the improvement of the overall economic renewal and competitiveness of Egypt on a global scale.
Raya IT–IDB partnership boosts Egypt’s fintech and IT growth
The deal is also a milestone because the partnership is the first deal between IDB and Raya Information Technology, and they represent a new form of cooperation within the Egyptian market.
The leadership of IDB, specifically Awadallah, commended Raya for its extensive influence on the country’s tech scene, demonstrating that this facility is more than a sign of trust in the company’s competence and the basis of its long-term partnership.
For Raya, this is more than capital; it is a strategic endorsement that enables scaling and innovation. As Ahmed Khalil, Managing Director at Raya Holdings, said, the partnership is an expression of mutual interest in creating a technological future for Egypt.
“Raya Information Technology is not just a tech provider, but a strategic partner in building the infrastructure needed to support economic growth,” Khalil notes.
The IDB Bank in Egypt offers development-oriented products through its retail and corporate banking services, promoting both financial inclusion and digital banking in line with state policies. Raya IT is one of the providers of this digital transformation by offering complex technology integration and security services.
Raya IT reported an annual revenue of $557.8 million in 2025, while IDB had EGP 1.7 billion (approximately US$35.3 million) in pre-provision profits for 2024.
This move will result in both the financial resources and strategic support of IDB’s innovation, along with the technical and operational experience of Raya in the implementation of large-scale digital infrastructure projects.
