Cape Town – South African banking group Absa has opened its first office in the Gulf region, establishing a presence in Dubai to strengthen trade and investment links between the Middle East and Africa.
The office, located in the Dubai International Financial Centre (DIFC), will connect Gulf-based companies, investors and financial institutions with Absa’s operations across 16 African markets. According to Daily Investor, the expansion forms part of the bank’s strategy to broaden its international reach and attract more business linked to Africa.
Absa International chief executive Cheryl Buss said the move reflected the Gulf’s growing importance in the continent’s trade and investment landscape.
“Our decision to establish a presence in Dubai reflects the growing importance of the Gulf in Africa’s trade and investment landscape,” Buss said, according to a statement published by the Dubai International Financial Centre.
Expanding commercial relationship
The bank’s new office will focus on connecting investors with opportunities in sectors including infrastructure, energy, agriculture, minerals and logistics. However, it will not lend directly from its own balance sheet, instead facilitating access to Absa’s existing African banking network.
Reuters, in a report republished by Zawya, reported that non-oil trade between the United Arab Emirates and Africa reached $158 billion in 2025, up from approximately $112 billion in 2024, highlighting the expanding commercial relationship between the regions.
Absa’s move also places it alongside South African banking rivals Investec, Standard Bank and Nedbank, which already have offices in Dubai.
According to Moneyweb, the expansion is part of Absa’s broader effort to diversify its earnings beyond its established markets. South Africa, Kenya and Ghana accounted for more than 80% of the group’s profit in the six months to June 2026.
The office operates under a Category 4 licence issued by the Dubai Financial Services Authority in July, allowing it to arrange investment deals, advise on financial products and arrange and advise on credit.
The expansion strengthens Absa’s position as a financial link between African businesses and international sources of capital, at a time when Gulf investors are increasingly exploring opportunities across the continent.
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Compiled by Betha Madhomu
