Absa Opens Dubai Office to Connect Gulf and African Markets

Absa has opened its first Gulf office in the Dubai International Financial Centre, marking a significant milestone in the bank's expansion into the Middle East and African markets. The office, which was opened on 29 October 2026, will serve Gulf corporates, investors, and financial institutions seeking African exposure. With a Category 4 licence from the Dubai Financial Services Authority, Absa's Dubai branch is authorised to arrange investment deals, advise on financial products, and arrange credit.

The new office gives Absa a local platform for two-way business, enabling African clients to pursue Gulf opportunities and Middle Eastern firms to reach African markets through Absa's existing network across 16 countries. This move is expected to strengthen trade ties between the Gulf and Africa, with Dubai emerging as a key hub for African expansion. The office will not lend from its own balance sheet, instead channeling Gulf clients into Absa's African operations.

The licence held by Absa's Dubai branch covers arranging investment deals, advising on financial products, and arranging credit. This will enable the bank to provide a range of services to its clients, from investment advice to credit facilities. The office will play a critical role in facilitating trade between the Gulf and Africa, with a focus on infrastructure, energy, agriculture, minerals, and logistics.

Trade volumes between Dubai and Africa have been growing rapidly, with non-oil trade between the two regions increasing by 325% between 2016 and 2025, reaching US$146bn. More than 30,000 African companies are now registered in Dubai, and African-linked investment has reached US$77bn, supporting over 70,000 jobs. The wider UAE recorded US$158bn in non-oil trade with Africa in 2025, up from roughly US$112bn in 2024.

The UAE has been a significant investor in Africa, committing more than US$110bn to the continent between 2019 and 2023. These investments have spanned a range of sectors, including ports, mines, agriculture, and clean energy. For example, Dubai-based DP World has outlined an initial US$830M investment in Senegal's Ndayane port, while UAE-based AMEA Power commissioned a 120-megawatt-peak solar plant in Tunisia in December 2025.

Absa's presence in Dubai creates a direct channel for Gulf capital into African infrastructure, energy, agriculture, minerals, and logistics. The bank's existing network across 16 African countries will provide a platform for Middle Eastern firms to access African markets. This move is expected to further strengthen trade ties between the Gulf and Africa, with Dubai emerging as a key hub for African expansion.

The growth of Dubai as a hub for African trade is significant, with the city shifting from a transit point into an operating base for African expansion. With its strategic location and business-friendly environment, Dubai is well-placed to play a critical role in facilitating trade between the Gulf and Africa. Absa's new office in the Dubai International Financial Centre is a key development in this trend, and is expected to have a positive impact on trade and investment between the two regions.

Key points

• Absa's Dubai office will facilitate two-way business between Gulf and African markets.
• The office will provide a platform for Middle Eastern firms to access African markets through Absa's existing network across 16 countries.
• Dubai has emerged as a key hub for African expansion, with non-oil trade between Dubai and Africa growing by 325% between 2016 and 2025.