CRDB Bank Opens Dubai Office to Transform Gulf Capital into Africa’s $3.4 Trillion Economy

Dubai, UAE, 20 January 2026 – Africa-UAE economic relations reached a milestone today with the official launch of the Dubai CRDB Bank Representative Office at the Dubai International Financial Center (DIFC), marking the first time that a Tanzanian bank has established a presence within one of the world’s most influential financial institutions.

The milestone places Tanzania, and the East and Central African region, squarely within the global ecosystem, using a home-grown African financial institution as a bridge between regional opportunities and international finance.

This presentation brought together senior leaders from international financial institutions, global investors, international companies and development finance partners, reflecting the growing global interest in Africa as the next frontier of economic growth in the world.

The event was chaired by Ambassador Mahmoud Thabit Kombo, Minister of Foreign Affairs and East African Cooperation, who delivered the speech of the day on behalf of Samia Suluhu Hassan, President of the United Republic of Tanzania.

Speaking on behalf of the President, Minister Kombo commended the CRDB Bank for improving Tanzania’s national economic outlook through a strong domestic institution capable of operating at international standards. He said the selection of Dubai was strategic, citing its role as a leading global capital city and the DIFC’s strong regulatory framework.

“The presence of a Tanzanian bank in Dubai will deepen economic, trade and investment relations between Tanzania and the United Arab Emirates, building on bilateral trade that has reached approximately USD 2.5 billion annually, while strengthening Tanzania’s connection with global markets,” said Minister Kombo Said.

Tanzania, with a population of over 60 million, has sustained average GDP growth of 6-7 percent for more than two decades, maintained single-digit inflation and maintained macroeconomic stability even during times of global turmoil. This stability enabled Tanzania to evolve into a natural gateway economy, linking the Indian Ocean with landlocked markets throughout East and Central Africa.

This is the opportunity that CRDB Bank was created to operate. The bank was established 30 years ago, and has grown in tandem with the Tanzanian economy and regional integration program. Today, the Group serves more than six million customers across the region, with a balance sheet exceeding USD 9 billion. Its footprint in Tanzania, Burundi and the Democratic Republic of Congo shows the most important areas for trade, transport and investment in the region.

In his remarks, Abdulmajid Nsekela, who is the Group CEO of CRDB Bank, said that the expansion of Dubai represents the next logical step in the regional strategy that focuses on the economic situation of Tanzania and the plan to unite Africa.

“CRDB Bank was created to finance Tanzania’s growth. As Tanzania became a gateway, the Bank became a region,” he said. “Dubai now allows us to complete the triangle—connecting the global capital, Tanzania, and East and Central Africa with one trusted African hub.”

East and Central Africa together represent a market of nearly 400 million people, defined by growing intra-African trade, an expanding infrastructure network, abundant mineral and energy resources, and one of the world’s smallest workforces. Africa as a whole is home to 1.4 billion people, generates more than USD 3.4 billion in GDP, and is expected to account for a quarter of the world’s population by 2050.

Despite this scale, access to long-term, structured finance remains a persistent obstacle. CRDB’s Dubai Representative Office is designed to address this gap by structuring deals, structuring financing and mobilizing global capital for African projects that require local understanding and international standards. “Africa does not lack opportunity,” said Mr. Help me. “The thing that is often missing is the bridge between the bully and the murder. This office is that bridge.”

By establishing a Tanzanian banking presence in the DIFC, CRDB Bank is expected to deepen trade finance, cross-border investment planning and financing between the Gulf and Africa, using Tanzania as a base and East and Central Africa as a growth area. This office also strengthens Africa’s cooperation with Islamic finance, a global market that exceeds USD 4 trillion in assets.

Neema Mori, who is the Chairman of the Board of Directors of the CRDB Bank, said that the milestone shows the growing confidence of African institutions to work at a high level in the world. “This is a statement about governance, power and trust,” he said. “The presence of the CRDB Bank in Dubai shows that African banks can support international relations while being strongly aligned with the basic needs of African development.”

The leadership from the Dubai Financial Services Authority welcomed CRDB Bank into the DIFC ecosystem, noting that an African bank with deep regional roots is strengthening the financial channel in the Africa-Middle East and improving long-term capital flows in emerging markets.

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