Cairo - Mubasher: Raya Information Technology and Management Co., a subsidiary of Raya Holding for Technology, saw a rise of 60% y-o-y in revenues for the first half of 2015 to EGP 369 million.

The company has carried out the design and creation of Etisalat Egypt's whole database and is currently working on establishing the Central Bank of Egypt's database.

Earlier, Raya Holding announced that it sold its 23.44% stake in e-billing firm Fawry to BSI Netherlands BV for EGP 163.6 million.

Raya Holding is capitalised at EGP 420.5 million and owns branches in Egypt, Algeria, Nigeria, Saudi Arabia and US.