CRDB Bank opens Dubai office to channel global capital into East and Central Africa’s economy

The desert sun was setting over Dubai’s skyline when Tanzania’s CRDB Bank marked a milestone that felt bigger than finance.

At the Intercontinental Hotel Dubai Festival City, against the glittering backdrop of one of the world’s most ambitious cities, the bank officially opened its Representative Office at the Dubai International Financial Centre (DIFC).

It was more than a launch; it was a statement that Africa’s economic story is ready to be told on the world’s grandest stage.

The milestone positions Tanzania, together with the East and Central Africa region, a combined economy approaching USD 800 billion, directly within the global capital ecosystem, using a home-grown African financial institution as the bridge between regional opportunity and international finance.

The ceremony itself reflected the weight of the moment. Senior leaders from international financial institutions, global investors, multinational corporations, and development finance partners gathered, their conversations buzzing with opportunity. 

Ambassador Mahmoud Thabit Kombo, Tanzania’s Minister for Foreign Affairs and East African Cooperation, officiated on behalf of President Samia Suluhu Hassan. His words carried both pride and vision:

“The presence of a Tanzanian bank in Dubai will deepen economic, trade and investment relations between the United Republic of Tanzania and the United Arab Emirates, building on bilateral trade that has already reached approximately USD 2.5 billion annually, while also strengthening East and Central Africa’s linkages with global markets.”

It was a reminder that Tanzania’s economic journey has been one of resilience and steady progress. With more than 60 million people, the country has sustained GDP growth of 6–7 percent for over two decades, kept inflation in single digits, and maintained stability even during global disruptions.

That stability has turned Tanzania into a natural gateway economy—linking the Indian Ocean to landlocked markets across East and Central Africa.

For his part, the Minister of Finance of the Revolutionary Government of Zanzibar, Dr. Juma Malik Akil, said the development signals the growing maturity of Tanzania’s financial sector.

“This milestone reflects the maturity and increasing sophistication of Tanzania’s financial sector, and the ability of our domestic institutions to operate confidently within global financial markets,” said Dr Juma Malik Akil.

CRDB Bank has grown alongside that story. Founded 30 years ago, it has become Tanzania’s largest financial institution, serving over six million customers and managing a balance sheet exceeding USD 9 billion.

Its footprint stretches across Tanzania, Burundi, and the Democratic Republic of Congo, following the region’s busiest trade and investment corridors.

For Group CEO Abdulmajid Nsekela, the Dubai expansion was not just about geography—it was about completing a vision.

“CRDB Bank was built to finance Tanzania’s growth. As Tanzania became a gateway, the Bank became regional. Dubai now allows us to complete the triangle—linking global capital, Tanzania, and East and Central Africa through one trusted African institution,” he said.

The logic is clear. East and Central Africa together represent nearly 400 million people, abundant mineral and energy resources, expanding infrastructure networks, and one of the youngest labour forces in the world.

Africa as a whole generates USD 3.4 trillion in GDP and is projected to account for a quarter of the global population by 2050. Yet despite this scale, access to long-term, structured capital remains a persistent challenge.

CRDB’s Dubai office is designed to bridge that gap. It will originate deals, structure financing, and mobilize global capital for African projects that require both local understanding and international standards.

“Africa does not lack opportunity,” Mr Nsekela noted, adding, “What it often lacks is a bridge between capital and execution. This office is that bridge.”

The mood in the room reflected that ambition. Dr Juma Malik Akil, Zanzibar’s Minister of Finance, spoke of the growing maturity of Tanzania’s financial sector.

“This milestone reflects the increasing sophistication of our institutions and their ability to operate confidently within global financial markets,” he said.

Neema Mori, Chairperson of CRDB Bank’s Board of Directors, added another layer of meaning: “This is about governance, capability, and trust. CRDB Bank’s presence in Dubai demonstrates that African banks can anchor global partnerships while staying firmly aligned with Africa’s development priorities.”

The Dubai Financial Services Authority welcomed CRDB Bank into the DIFC ecosystem, noting that an African bank with deep regional roots strengthens the Africa–Middle East corridor and enhances the flow of long-term capital into emerging markets. The office also opens new pathways into Islamic finance, a global market exceeding USD 4 trillion in assets.

But beyond the speeches and the symbolism, the launch carried a sense of inevitability. Africa’s youthful population, rising intra-African trade, and expanding infrastructure networks are converging to create unprecedented opportunities.

The question has never been whether Africa will rise, but how quickly and through what channels. CRDB’s presence in Dubai is designed to ensure that capital meets opportunity that projects move from vision to execution, and that Africa’s growth story is not stalled by financial bottlenecks.

For Tanzania, the move is both practical and symbolic. It signals the maturity of its financial sector, the confidence of its institutions, and the readiness of East Africa to step onto the global stage not as a recipient of capital, but as a partner in shaping its flow.

As the evening drew to a close in Dubai, the sense was unmistakable: this was more than a corporate expansion. It was a bridge being built—between Africa and the world, between opportunity and capital, between vision and reality.

CRDB Bank’s new office in Dubai is not just a milestone for one institution. It is a marker of Africa’s growing voice in global finance, a voice that is ready to be heard.