Raya IT contracts with state-owned bank for 500 ATMs at $10m

Daily News Egypt
2 Min Read

By Kareem Salah

Raya Information Technology (Raya IT) has contracted with a state-owned bank to provide 500 ATMs to be made available in a number of areas and neighbourhoods across Egypt.

Hisham Abdel Rasoul, CEO of Raya IT, said the company has contracted with the bank to supply 500 ATMs at a cost of $10m.

“The contract includes the provision of ATMs in addition to a set of software programmes for networks, that will ensure these machines connect directly to the bank,” he added.

He pointed out that these machines will be distributed in a number of areas and neighbourhoods across Egypt, and that the company has provided these machines to other banks working in the local market.

Abdel Rasoul explained that Raya IT is the only Egyptian company that provides ATM services for banks, and provides all the integrated IT system network solutions. He added that the company has a set of integrated solutions for software networks, which allow banks to communicate electronically with the largest number of branches.

He emphasised that the company is currently focused on providing services to the banking, telecommunications and information technology sectors. This is in addition to using the latest technology systems used worldwide for its customers in the domestic and foreign markets.

He pointed out that the company is targeting expansion in Africa, as it believes the African market is hungry for technology. He noted that Raya has significantly benefited during the journey with the Information Technology Industry Development Agency (ITIDA) in Nairobi, Kenya under the initiative “together to Africa”.

Raya IT awaits the coming visits of the Chamber of Information Technology Industry to participate in the search for investment opportunities and the provision of the ministry’s projects.

Raya IT is a subsidiary of Raya Holding, which operates in the electronics and information technology field, as well as call centres and smart buildings, and owns a diversified investment portfolio.

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