Absa Group has opened its first office in the Gulf region, establishing a presence in Dubai as the South African banking group seeks to attract more investment into Africa and strengthen trade links between the continent and the Middle East.
The new office is located at the Dubai International Financial Centre (DIFC), a major financial hub serving the Middle East, Africa and South Asia. It will bring Absa closer to Gulf-based corporations, institutional investors, trading houses and financial institutions seeking business and investment opportunities across Africa.
The expansion is part of Absa’s international corridor strategy, which aims to connect global sources of capital with African markets. Key sectors expected to benefit include infrastructure, energy, logistics, agriculture and fast-moving consumer goods.
Licensed by the Dubai Financial Services Authority from July 15, 2026, Absa Bank Limited (DIFC Branch) can arrange investment deals, provide financial product advice and arrange or advise on credit. The office will not operate as a conventional lending bank but will connect clients with Absa’s wider African banking network.
Absa already maintains international offices and subsidiaries in the United Kingdom, the United States and China, with its London and New York operations supporting international investment and corporate banking activities. It also has a technology support operation in the Czech Republic. Dubai adds a strategic Middle Eastern base to this international network.
Absa Financials
The move comes as Absa reported improved financial performance. In its half-year results for the six months ended June 2026, group revenue increased 4% to R58.8 billion ($3.54 billion), while headline earnings rose 8% to R12.8 billion ($744 million). Profit attributable to ordinary equity holders reached R12.6 billion ($700 million), compared with R11.2 billion ($672.4 million) a year earlier.
The bank’s pre-provision profit increased 4% to $1.52 billion, while credit impairments declined 1% to $408 million. Its return on equity improved to 15% from 14.8%, and the interim dividend increased 8% to 850 cents per share.
Absa’s Kenyan leadership sees the new corridor as an opportunity to help local businesses access international markets and capital.
Yusuf Omari, Managing Director and CEO of Absa Bank Kenya, said the Dubai presence would open new doors for small businesses, corporates and individuals seeking to trade and invest internationally.
“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.”
Zaid Moola, Absa’s Chief Executive for Corporate and Investment Banking, said the office would strengthen the bank’s ability to connect clients with capital, market expertise and cross-border banking capabilities.
The expansion will provide a closer link to investors and financial institutions in the Gulf, where interest in the continent’s infrastructure, energy and agricultural opportunities continues to create new commercial possibilities.
Absa operates across 12 African markets, including Kenya, South Africa, Ghana, Botswana, Tanzania, Uganda, Zambia, Mauritius, Mozambique, Seychelles, Namibia and Nigeria. Its Dubai expansion signals an ambition to turn that continental footprint into a stronger bridge between African businesses and international capital.