CRDB Bank’s new Dubai office to link East, Central Africa to global financing
From left; CRDB Bank group ceo, Abdulmajid Nsekela, the Minister for Foreign Affairs and East African Cooperation, Amb Mahmoud Thabit Kombo and the chairperson of the CRDB Bank board of directors, Prof Neema Mori (right), jointly officiate the launch of the CRDB Bank Dubai Representative Office at the InterContinental Hotel, Dubai. PHOTO | COURTESY
Dubai. Africa–UAE economic ties entered a new phase on January 20, 2026, with the launch of the CRDB Bank Dubai Representative Office at the Dubai International Financial Centre (DIFC), making CRDB the first Tanzanian bank to establish a presence in one of the world’s leading financial hubs.
The move places Tanzania, and the wider East and Central Africa region, with a combined economy approaching $800 billion, directly within the global capital ecosystem, using a home-grown African institution as the conduit between regional opportunity and international finance.
The launch ceremony, held at the InterContinental Dubai Festival City, brought together leaders from international financial institutions, global investors, multinational companies and development finance partners, reflecting growing international interest in Africa as a growth frontier.
The event was officiated by the minister for Foreign Affairs and East African Cooperation, Amb Mahmoud Thabit Kombo, who delivered a keynote address on behalf of President Samia Suluhu Hassan.
Speaking for the President, Amb Kombo said the expansion aligned with Tanzania’s national economic vision and demonstrated the capacity of domestic institutions to operate to global standards.
He described Dubai as a strategic choice, citing its role as a global capital hub and the strong regulatory environment at DIFC.
“The presence of a Tanzanian bank in Dubai will deepen trade, investment and economic relations between Tanzania and the United Arab Emirates, building on bilateral trade of about $2.5 billion annually, while strengthening East and Central Africa’s links with global markets,” he said.
Zanzibar’s Minister of Finance, Dr Juma Malik Akil, said the development reflected the growing maturity of Tanzania’s financial sector and its ability to engage confidently with international markets.
Tanzania, home to more than 60 million people, has recorded average GDP growth of 6–7 percent for over two decades, maintained single-digit inflation and preserved macroeconomic stability.
This record has helped position the country as a gateway linking the Indian Ocean to landlocked markets across East and Central Africa.
CRDB Bank has expanded alongside this role. Founded 30 years ago, the Group now serves more than six million customers across Tanzania, Burundi and the Democratic Republic of Congo, with a balance sheet exceeding $9 billion.
Group chief executive Abdulmajid Nsekela said the Dubai office was the next step in a regional strategy shaped by Tanzania’s geography and Africa’s integration agenda.
“Dubai allows us to complete the triangle—linking global capital, Tanzania and East and Central Africa through one trusted African institution,” he said.
Despite a market of nearly 400 million people and vast infrastructure, energy and mineral opportunities, the region continues to face constraints in accessing long-term capital.
CRDB said the Dubai office will focus on deal origination, financing structures and mobilisation of international funding, including Islamic finance.
CRDB board chairperson Prof Neema Mori said the move signalled confidence in African institutions.
“This is a statement about governance, capability and trust,” she said.
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