Egypt’s Raya Holdings pushes for website development

Raya Holding announced this week that it is starting a company with an aim of creating and operating social networking websites, with an initial cost of 20 million Egyptian pounds. The new company will be also charged with a capital of 15.5 million Egyptian pounds for insurance purposes.

It is worth mentioning that social networking websites have witnessed a great boom after the January 25 revolution that ousted President Hosni Mubarak and brought down his regime in 18 days.

The ministry of information said Internet users have reached 25 million in post-revolution Egypt. Facebook, an instrumental website in mobilizing for the uprising, have reached 7 million users in the country and the micro-blogging website Twitter has reached 4 million.

Raya Holding was established in Egypt in 1999 and saw seven IT companies merge together.

Raya IT was granted the Microsoft Gold Portals and Collaboration Competency and Microsoft Gold Web Development Competency Awards in June 2011.