Herbert Smith Freehills Advised Africa50 On US$15 Million Investment In Raya Data Center
Herbert Smith Freehills Advised Africa50 On US$15 Million Investment In Raya Data Center
Leading international law firm Herbert Smith Freehills has advised Africa50, a pan-African infrastructure investor and asset manager, on its strategic minority equity investment of US$15 million in Raya Data Center, a prominent Egyptian provider of colocation and cloud services.
This investment marks a significant milestone in Africa50's data centre and connectivity strategy, aimed at enhancing digital infrastructure across the continent. The funds will be used to develop a greenfield Tier III data centre in Egypt. The agreement was signed in December 2024.
Africa50, established by African governments and the African Development Bank, focuses on facilitating project development, mobilizing public and private sector finance, and investing in infrastructure throughout Africa.
The Herbert Smith Freehills team advising on the transaction was led by Dubai-based Corporate Partners Chris Walters and Anna Szyndler, supported by Senior Associate Andrew El-Khoury, Associate Nicola Halliday, and Trainee Solicitor Mukuma Kawesha.
Egyptian law advice was provided by Matouk Bassiouny & Hennawy.
Chris Walters, Partner and Head of Middle East Corporate, commented, “We are thrilled to have advised Africa50 on this strategic investment. Digital infrastructure and connectivity services are crucial for Africa’s economic and social development. This project highlights our commitment to supporting key infrastructure developments across the continent and showcases the expertise of our Africa-focused team.”
Andrew El-Khoury, Senior Associate, added, “This investment is a testament to Africa50’s vision for strengthening digital infrastructure in Africa. We are proud to be part of a project that will have a lasting impact on the region’s connectivity and data management capabilities.”
