Leading international law firm Herbert Smith Freehills has advised Africa50, the pan-African infrastructure investor and asset manager, on its strategic minority equity investment of US$15 million in Raya Data Center, a leading Egyptian provider of colocation and cloud services.
The investment is a significant step in Africa50’s data centre and connectivity strategy, aimed at enhancing digital infrastructure across the region. The investment will fund the development of a greenfield tier III data centre in Egypt. The signing took place in December 2024.
Africa50 was established by African governments and the African Development Bank to facilitate project development in Africa, mobilise public and private sector finance, and invest in infrastructure on the continent.
The Herbert Smith Freehills team was led by Dubai-based Corporate partners Chris Walters and Anna Szyndler and included 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, said, “We are delighted to have advised Africa50 on this strategic investment. Digital infrastructure and connectivity services are essential to Africa’s economic and social development and modernisation. This project not only underscores our commitment to supporting key digital infrastructure developments in Africa but also highlights the strength and expertise of our Africa specialist lawyers.”
Andrew El-Khoury, senior associate, added, “This investment is testament to Africa50’s vision for enhancing digital infrastructure in Africa. We are proud to have been part of a project that will have a lasting impact on the region’s connectivity and data management capabilities.”
The proposed investment in Raya Data Center is expected to serve as a cornerstone in Africa50’s broader strategy to bolster data centre infrastructure across the continent, providing enhanced services to a growing market and fostering economic growth.
