Absa opens Dubai office to channel gulf capital into African markets

Nairobi, Kenya – Absa Group has established a new office in Dubai to bolster trade and investment ties between Middle Eastern markets and Africa. Situated at the Dubai International Financial Centre (DIFC), the office aims to offer corporate and investment banking services to Gulf Cooperation Council (GCC) entities, giving them access to Absa's financial products across African markets.

This expansion is a key component of Absa's strategy to link global capital sources with African investment and trade prospects, particularly in infrastructure, energy, logistics, agriculture, and fast-moving consumer goods. The Dubai branch obtained a Category 4 license from the Dubai Financial Services Authority, effective July 15, 2026.

This license empowers the branch to facilitate investment deals, provide financial product advice, and arrange and advise on credit, enabling it to engage eligible clients on Absa's corporate and investment banking services.

Yusuf Omari, CEO of Absa Bank Kenya, expressed that the new office would offer additional prospects for Kenyan businesses exploring international markets and financing. "As Kenya continues to solidify its status as a regional business hub, Absa's presence in Dubai opens new doors for our customers," Omari stated. "Whether it is an SME seeking fresh markets, a corporation expanding its footprint, or an individual wishing to engage in international business and investments, this corridor enhances access to capital, trade, and opportunities."

The initiative comes as Gulf-based investors are increasingly looking at African economies, especially in sectors like infrastructure, energy, and agriculture, which necessitate substantial long-term capital. Absa's CEO of Corporate and Investment Banking, Zaid Moola, highlighted that the Dubai office would enhance the lender's capacity to connect businesses with financing and market knowledge across the two regions.

Furthermore, by being in Dubai, the bank can engage investors nearer to their headquarters and connect them with local market specialists who comprehend the regulatory and commercial environment in various African nations.

Cheryl Buss, CEO of Absa International, emphasized that investment choices transcend mere access to capital, stressing the significance of local market knowledge and established business relationships. Clinton Clarke, Senior Executive Officer of Absa Bank Limited's DIFC Branch, noted that the expansion reinforces the lender's global standing while preserving its focus on African markets. The bank aims to support cross-border financing, investment, and commercial collaborations in the region.