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Raya Holding for Financial Investments, an investment group established by Egyptian entrepreneur Medhat Khalil, has recently inked a new agreement to expand its existing entrepreneurship support initiatives in Egypt.
The group is poised to strengthen its commitment to fostering entrepreneurship in the country by partnering with develoPPP, a program implemented by GIZ Egypt on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).
With the leadership of Khalil, the Egyptian investment group is ramping up its efforts to empower startups and entrepreneurs through its entrepreneurship support programs.
The group plans to launch new acceleration cycles, hackathons, startup bridges, and other ecosystem-building programs to achieve this goal.
The participating startups in these programs can expect to receive comprehensive support, including access to in-house industry experts, shared resources, networks, and value chains.
With Raya Holding’s vast expertise in various industries, startups can benefit greatly from this initiative.
Khalil, the CEO of Raya Holding for Financial Investments, expressed his excitement regarding the investment group’s latest move, stating that the strategic partnership with GIZ represents a significant step forward in Raya Future TECH’s course of action.
“Our strategic partnership with GIZ is a major step forward in Raya Future TECH’s course of action. We launched our accelerator to be a leading actor in promoting the entrepreneurship ecosystem and to take further remarkable steps towards technical, economic, and social growth,” he explained.
Khalil also emphasized that through its entrepreneurship programs in collaboration with GIZ Egypt, Raya Holding will be able to provide more support to startups, particularly those that operate in its vast areas of expertise, and the partnership will result in mutual benefits for both the startups and Raya’s subsidiaries.
Raya Holding is an Egyptian investment conglomerate formed in 1999 by the merger of entities owned by Medhat Khalil and Orascom Group.
Presently, Khalil owns 58.1 percent of the company, equivalent to 1,245,661,205 shares. The shareholding makes him one of the Egyptian Exchange’s most affluent investors, with his stake presently valued at EGP3.42 billion ($111.2 million).
