Egyptian businessman Medhat Khalil’s Raya Contact Center looks set to launch Dubai unit

Raya Contact Center, a Cairo-based contact center outsourcing services firm founded by Egyptian multimillionaire businessman Medhat Khalil, is planning to open a branch in Dubai as part of an effort to diversify its operations by expanding into the Gulf region.

The announcement comes after the Raya Contact Center’s board of directors approved the formation of a new limited liability company in Dubai called Raya Gulf Customers Experience.

Raya Contact Center is one of the many subsidiaries of Raya Holding, an Egypt-based investment conglomerate established in 1999 through the merger of Medhat Khalil’s Protech and Oratech.

The Dubai unit is expected to consolidate the group’s existing Middle East and North African operations and partnerships, as Raya Contact Center will hold a 100-percent stake in the new company’s capital under the terms of the arrangement.

Nearly two months ago, Raya CX, a customer experience center run by Raya Holding, signed a strategic partnership agreement with Mobile Telecommunication Company Saudi Arabia (Zain KSA) to manage its customer experience in Saudi Arabia.

In line with the terms of the deal, Raya CX will provide outsourcing services to Zain KSA, as it prepares to play an instrumental role in boosting the experience of consumers in the kingdom.

The agreement with Zain KSA comes as the group prepares to incorporate two companies under the name “Aman” through one of its subsidiaries, Aman Holding, for securitization and consumer financing to complete its non-banking financial services system.

Raya Holding has enjoyed a robust valuation in constant currency terms since the start of the year, with its share price on the Egyptian Exchange increasing by more than 16 percent from EGP2.38 ($0.121) at the beginning of the year to EGP2.78 ($0.1415) at the time of writing this report.