We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as the legal counsel, along with Herbert Smith Freehills, to Africa50 in connection with its USD 15 million primary investment in Raya Data Center S.A.E., a wholly owned subsidiary of EGX-listed Raya Holding for Financial Investment S.A.E. This investment marks Africa50’s acquisition of a 42.9% stake in Raya Data Center S.A.E.

Africa50 was established by African governments and the African Development Bank to help bridge Africa’s infrastructure funding gap by facilitating project development, mobilizing public and private sector finance, and investing in infrastructure on the continent. Africa50’s investment will support the development of a new Tier III data center in Egypt, with construction set to begin in early 2025.

The MBH team advising on the transaction was led by Omar S. Bassiouny (Founding Partner and Group Head of Corporate and M&A) and included Omar Al Fadaly (Associate) and Dina Mohamed (Associate).

For more about Matouk Bassiouny, check out our website at https://matoukbassiouny.com/.