Absa Group has opened its first office in the Gulf region, establishing a presence in Dubai as trade between the United Arab Emirates (UAE) and African countries continues to expand. The move is aimed at connecting Gulf-based investors and businesses with investment opportunities across Africa.
Non-oil trade between the UAE and African countries reached approximately $158 billion in 2025, representing a 41.6% increase from the previous year, according to UAE government figures.
Through the new office, Absa intends to facilitate business opportunities in infrastructure, energy, logistics and agriculture. The expansion places the bank alongside South African competitors Investec, Standard Bank Group and Nedbank, which are also pursuing business linked to trade between the two regions.
The Dubai office operates under a Category 4 licence that took effect on July 15, 2026. The licence allows it to arrange investment transactions and provide advice on credit and financial products, but it cannot lend directly from its own balance sheet.
According to Reuters, financing will instead be provided through Absa’s wider banking network. Absa Bank Kenya Chief Executive Yusuf Omari said the expansion could also benefit small businesses and individuals seeking international opportunities.
However, the office’s announced services mainly target corporate and institutional clients. Absa has also not identified specific financing facilities or new services that will be available to Kenyan customers.
The bank had initially planned to open the Dubai office in the first quarter of 2026. Its establishment now gives Absa a base in the Gulf market as it seeks to pursue opportunities arising from growing commercial ties between Africa and the UAE.