Absa Group has opened an office in the Dubai International Financial Centre (DIFC), its first in the Gulf. The emirate’s growing trade with Africa, and its expanding base of African businesses, is creating demand for cross-border banking connections.
Non-oil trade between Dubai and Africa exceeded $145.9 billion in 2025, up 51% from a year earlier, according to the Dubai Chamber of Commerce. Over the decade to 2025, that trade grew by about 325%. Africa accounted for 17.2% of Dubai’s total trade last year.
The chamber also counted 30,409 African companies as active members at the end of 2025, an increase of 14.3%. That growth underscores Dubai’s role as a base for African companies operating internationally.
The office will engage corporates, investors and financial institutions across the Gulf Cooperation Council. Absa is targeting infrastructure, energy, logistics, agriculture and fast-moving consumer goods, sectors where regional corporates, sovereign-linked entities, institutional investors and trading houses are exploring investment and expansion.
“Investment decisions are shaped by more than the availability of capital,” said Cheryl Buss, chief executive of Absa International. “They require an understanding of local markets, the right relationships and confidence in how opportunities can be pursued.”
The branch holds a Category 4 licence from the Dubai Financial Services Authority, effective July 15, 2026. Its permissions cover arranging investment deals, advising on financial products, and arranging and advising on credit. The mandate centres on advisory and arranging services rather than conventional deposit-taking and lending. Through it, the branch connects eligible clients to the group’s corporate and investment banking capabilities across Africa.
“Our presence in Dubai strengthens our ability to originate and support these flows, while drawing on Absa’s deep understanding of African markets,” said Zaid Moola, chief executive of Absa Corporate and Investment Banking.
The Dubai team will develop client relationships and bring African market and sector specialists into discussions.
“For Middle Eastern-based businesses and investors looking towards Africa, the challenge is often understanding how an opportunity translates into a viable business decision,” said Clinton Clarke, senior executive officer of Absa’s DIFC branch. “Each market has its own commercial, regulatory and operating considerations.”
Absa arrives later than its domestic rivals. Investec, Standard Bank and Nedbank already operate in Dubai.
The Dubai office extends Absa’s international corridor strategy. Beyond its banks in 10 African countries, the group already has offices in China and the United States and securities entities in the UK and US.
Absa says the value of the Dubai presence will ultimately be measured by the business it enables and the commercial relationships it builds between Africa and the Middle East.
For Kenyan customers, the opportunities also run outward. Absa Bank Kenya, which has 91 branches and service centres across 38 counties, expects the office to support businesses seeking new markets and customers investing internationally.
“As Kenya continues to strengthen its position as a regional business hub, Absa’s presence in Dubai opens new doors for our customers,” said Yusuf Omari, the bank’s managing director and chief executive. “Whether it is an SME seeking new markets, a corporate expanding its footprint, or an individual looking to do business and invest internationally, this corridor creates greater access to capital, trade and opportunity. It is a strategic step that brings the world closer to our customers while bringing African opportunities closer to global investors.”
The growing African business presence in Dubai gives the expansion a broader rationale than attracting Gulf capital alone. Absa is positioning itself to serve Middle Eastern institutions entering African markets, while strengthening connections for African companies expanding through Dubai.