Corporate Governance

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Board of Directors

Medhat Khalil: Non-Executive Director

Chairman & CEO Raya Holding for Investments

Mr. Khalil holds a Bachelor’s Degree in Commerce from Cairo University. He serves as Chairman of the Board of Directors, Chief Executive Officer and Managing Director of Raya Holding Company for Technology and Telecommunication S.A.E. After holding top management positions with IBM Egypt for 15 years, Mr. Khalil founded Protech and Oratech in 1993 and 1997, respectively. In 1998, Protech and Oratech became two of the seven entities comprising the Selling Shareholder. Mr. Khalil is a member of the National Sports Council, a board member of the National Fund for Finance of Juniors, Youth and Sports, a member of the Egypt-United States Business Council and a member of the board of trustees of Sadat Academy.

Ahmed Khalil: Non-Executive Director.

CEO Raya Ventures Investment

Mr. Khalil holds a BA in Business Administration, with a double concentration in Finance and Marketing, from the American University in Cairo, as well as an MBA from the Harvard Business School, with a concentration in Corporate Finance and Real Estate. Before working in account management at Microsoft, he gained extensive retail experience by running the family business, where he managed and developed a home-grown retail chain of apparel stores. Mr. Khalil has served on our Board of Directors since 2008. He also serves on the Board of Directors of other companies, including Fawry Technologies and Rameda Pharmaceuticals.

Samer el Waziri: Non-Executive Director.

CFO Raya Holding for Investment

Mr. El Waziry holds a Bachelor’s Degree in Commerce from Cairo University, as well as a management diploma from Harvard Business School. Mr. El Waziry currently holds the position of Chief Financial Officer of the Selling Shareholder, where he played a key role as part of the management team building the company. Mr. El Waziry has 29 years of experience in financial management, including in the interpretation of financial data relevant to manufacturing and marketing, the evaluation and general coordination of corporate investment decisions and strategic planning. From 2000 to 2005, Mr. El Waziry held the position of Finance Director of GlaxoSmithKline, where he was also a member of the Board of Directors.

Ahmed Imam: Executive Director.

CEO Raya Foods

Mr. Imam holds a Degree in Communications and Electronics Engineering from Ain Shams University, as well as an MBA from the Indian Institute of Management, Ahmedabad. Mr. Imam is also a graduate of Harvard Business School’s Advanced Management Program. Mr. Imam started his career with us in Unitech in 1998. In 2001-2004, he was the General Manager of Customer Service Operations at Raya Telecom. Before being appointed to the position of CEO of Raya Contact Center, Mr. Imam held the position of Maintenance Managing Director from 2004-2009. In his capacity as CEO of Raya Contact Center, Mr. Imam managed to grow Raya Contact Center’s revenues, customer base, facilities and regional presence in order to make Raya Contact Center the leading BPO service provider in Egypt and the MEA Region.

Reem Asaad: Executive Director.

CEO Raya Contact Center

Ms. Asaad holds a BA from the University of Houston, Texas and is a graduate of Harvard Business School’s Advanced Management Program and the Certified Director and Corporate Governance Consultant program at International Finance Corporation. She worked in the United States for 15 years and joined us in 2005. She has 25 years of experience in IT, financial services and the BPO industry. Throughout her career, Ms. Asaad has held numerous positions at Raya Holding, including IT Director in 2007 and Corporate Communications and Investor Relations Director from 2007-2012. Ms. Assad was also the CEO of Raya Data Center from 2012-2016, where her leadership took Raya Data Center from a division within Raya Corporation to an independent company, making Raya Data Center one of the leading co-location and cloud data center service providers in Egypt. Ms. Asaad was instrumental in the commercialization of the data center by implementing the “go to market” service model, as well as other market positioning and sales strategies. Ms. Asaad currently acts as the Corporate Secretary of the Board of Directors, a position she has held since 2007. She was ranked number 38 in the Forbes Middle East list top 100 most powerful Arabic Businesswomen 2016, and represented Egypt at the United Nations Conference on Sustainable Development in Rio de Janeiro, Brazil in 2012 and at the United Nations Global Compact in New York in 2008. She has an extensive network of leadership in Egyptian economic associations, and is currently Co-Chair of the American Chamber of Commerce ICT committee 2015-2017 and the Chair of the Telecom Division of the Egyptian Information, Telecommunications, Electronics and Software Alliance. She is a Steering Committee Member in the Eitesal Business Nurturing Initiative (IOT Incubator) and is a founding member of the Global Compact Network Egypt.

Ayman El Baz: Independent Non-Executive Director.

Managing Director Innovo – Tawasol

Mr. El Baz holds a BSc in engineering from Cairo University. He played a major role in establishing the Raya Group since January 1993, where he was the first person to join the start-up team. Within five years, he moved from the position of Systems Engineer to General Manager and established the Networking Department from the ground up. In late 1998, he facilitated the establishment of Raya Group’s Carrier Solutions arm, which, in cooperation with Nortel Networks, acquired a significant market share of Egypt’s voice and data business from 1998 to 2001. In 2002, Mr. El Baz assumed leadership over the Distribution and Retail arm of the Group. During his tenure, the revenue of the group grew from EGP 286 million in 2002 to EGP 1.5 billion in 2005. In 2006, he joined the retail arm of EFG Hermes, where he helped launch the Retail 104 branches model. These retail branches soon represented 20% of EFG Hermes’ retail business. Before he left to start his own business, Mr. El Baz also spearheaded the establishment of Raya Group’s Facilities and Real Estate Department. Mr. El Baz currently sits on the board of directors of a number of small companies in real estate, agriculture and services, in addition to managing his own business in Telecom and Office Furniture and Solutions, which he started in 2011, and Kenana for Real Estate, which he started in 2010.

Ahmed el Guindy: Independent Non-Executive Director.

Founding Partner – Tanmeya Capital Ventures

Mr. El Guindy holds a BSC in Business Administration and Economics from American University in Cairo and a MSc in Accounting and Finance from the London School of Economics. He is currently the Managing Partner of TCV Holding, an investment firm focused on providing growth capital to successful, growing mid-cap Egyptian companies. Prior to joining TCV Holdings, Mr. El Guindy was the Head of EFG Hermes’ Investment Banking Division, a position he held since 2012. With EFG Hermes, he helped to expand the division’s regional presence, leading the team to conclude high profile regional IPOs, including Emaar Malls Group, Edita Food Industries, Dubai Parks and Resorts, Orascom Construction Industries and Domty, among others. Before heading the department, Mr. El Guindy participated in other high-profile transactions, including Weather Investment’s merger with VimpelCom, the Mobinil bond issuance and the IP of Telecom Egypt. Prior to joining EFG Hermes in 2004, he worked as a Research Analyst at the World Bank Cairo Office, where he focused on macroeconomic analysis.

Raya Reinforces Its Commitment to Corporate Citizenship

At Raya we are take pride in our dedication to corporate social responsibility initiatives that plays a major role in Egypt’s social development sustainability. Our pride not only lays in supporting such initiatives, but in our continuous efforts to engage our people on ground activities and witness our social impact ourselves. Raya is constantly looking to collaborate with reputable non-governmental organizations such as; Educate-Me, Terous , INJAZ Egypt, Wataneya, Baheya Hospital and Children Cancer Hospital 57357.

Raya’s Social Investment Initiatives: A Way Forward toward a Better Future

Raya’s Commitment to Education and Sustainable Development

Skill-based Education Initiative

The core of a rapid development of a country can always be routed to education, hence Raya started in 2015 with plans to empower and support education institutions. In collaboration with Educate-Me organization, Raya supported underprivileged communities to enhance the learning process in Talbeya Haram through supplying classes with all needed IT equipment as well as building and furnishing extra floors to accommodate a larger number of children. 320 children today are receiving their education in a better environment and are encouraged to pursue their dreams.

Safe-Learning Environment in Public Schools

In collaboration with Terous NGO, Raya participated in the Ministry of Education initiative “safe learning environment in public schools’ campaign. The initiative tackles the lack of necessary infrastructure maintenance work that put the lives of public schools’ students at risk. Raya’s collaboration with Terous NGO came to execute the needed maintenance missions in eight public schools in Al Ganayen in Suez governorate impacting the lives of over 4118 students. At Raya we believe that no student should ever endure such life threatening conditions to be able to receive their education.

Sharing Know-how Through Corporate Volunteerism

The third educational initiative with INJAZ Egypt was designed to encourage Raya employees to volunteer their time and knowledge to implement predesigned programs in public schools that tackle topics like entrepreneurship, financial literacy and work readiness. More than 315 training hours in 570 schools allowed Raya employees to influence preparatory students in their journey of self-discovery and created a skill based educational experience to our youth.

Raya Civic Engagement Activities: Creating a Sense of Shared Value

Raya is constantly encouraging activities that shows our commitment and duty towards the betterment of society. Our duty towards our society is to strive for success, growing the business and increasing our corporate social responsibility at Raya is of no less importance.

We praise the employees who participate in these social initiatives and encourage everyone to take part in our yearly social projects as to promote engagement and create a sense of shared value.

Raya and Children Cancer Hospital 57357 proudly organizes on regular basis blood donation campaigns in all its premises; 6th of October Headquarter, Galleria40, BariQ factory, Maadi Park facility and Abassya call center.

Raya also held breast cancer awareness sessions for all female employees in collaboration with the specialized Baheya breast cancer Hospital.

Calling for Gender Diversity and Women’s Empowerment

A major arm of Raya’s CSR committee is promoting gender diversity through celebrating International Day for Women’s Day. In 2015, we celebrated International Day for Women & Girls in Science and Technology. Raya also participated this year in the global event “Ring the Bell for Gender Equality” at the Egyptian Stock Exchange celebrating women in workplace and the community.

Raya group proudly encourages women in the workplace and helps them to maintain a work-life balance. Women leaders at Raya Group act as role models for all women employees by mentoring, empowering them and motivating them to develop their skills and succeed in their careers.

As part of Raya’s efforts in creating a corporate culture that encourages gender diversity and empowers women, Raya Holding’s CEO signed this year the Statement of Support to Women’s Empowerment Principles (WEP), disseminated by the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) and the United Nations Global Compact.

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