Raya Holding for Technology and Communications (RAYA.CA) confirmed plans to open up a new branch in Libya by the beginning of 2013 targeting investments of EGP 4 million. Eng. Medhat Khalil, Chairman and CEO of Raya Holding, said the company is making expansions in the Africa focusing on the markets of Central and East Africa that are currently the most lively, notably Zambia and Guinea. As for Raya's investment strategy, Khalil said the company targets increasing its volume of business to exceed EGP 2.5 billion by the end of the coming fiscal year, by implementing its expansion plans and creating a strong presence in Saudi and GCC markets in the field of information technology. Khalil further added that Raya is currently present in some of the GCC markets such as Qatar and Abu Dhabi, entering into partnerships with some locally based firms. The CEO of Raya stated that the company's strategy also includes focusing on the banking sector and developing the call center sector. It hopes to increase the number of its call centers to around 1,000 within the coming year, while taking into account the sector's obstacles – the volatile security situation and the theft of communication cables. Meanwhile, Khalil has unveiled new contracts with local and international entities. Raya is still studying some of these contracts; while it plans to carry out others within the coming year. He said there are new contracts with local and international entities in the fields of telecommunications, social networking (international entities only), electronics and technical support.
