Dubai, United Arab Emirates, January 20, 2026 – Economic relations between Africa and the United Arab Emirates reached a watershed moment today with the official launch of CRDB Bank’s Dubai 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 centers.
This milestone positions Tanzania, as well as the East and Central Africa region, directly within the global financial ecosystem, using a local African financial institution as a bridge between regional opportunities and international finance.
The launch brought together senior executives from international financial institutions, global investors, multinational companies and development finance partners, reflecting the growing global interest in Africa as the next great frontier of global growth.
The ceremony was chaired by Ambassador Mahmoud Thabit Kombo, Minister of Foreign Affairs and East African Cooperation, who delivered a keynote address on behalf of Samia Suluhu Hassan, President of the United Republic of Tanzania.
Speaking on behalf of the President, Minister Kombo commended CRDB Bank for advancing Tanzania’s national economic vision through a strong national institution capable of performing to global standards. He said the choice of Dubai was strategic, citing its role as a leading global financial hub 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 UAE, building on bilateral trade which has already reached approximately $2.5 billion annually, while strengthening Tanzania’s ties with global markets,” Minister Kombo said.
Tanzania, with a population of more than 60 million, has maintained average GDP growth of 6-7 percent for more than two decades, maintained single-digit inflation, and preserved macroeconomic stability even during periods of global disruption. This stability has allowed Tanzania to evolve into a natural gateway economy, linking the Indian Ocean to landlocked markets in East and Central Africa.
It is this bridging role for which CRDB Bank was designed. Founded 30 years ago, the Bank has grown alongside Tanzania’s economic and regional integration agenda. Today, the Group serves more than six million customers in the region, with a balance sheet exceeding $9 billion. Its footprint in Tanzania, Burundi and the Democratic Republic of Congo reflects the region’s most important trade, logistics and investment corridors.
In his speech, CRDB Bank Group CEO Abdulmajid Nsekela said the expansion into Dubai represents the logical next step in a regional strategy anchored in Tanzania’s economic geography and Africa’s integration agenda.
“CRDB Bank was established to finance Tanzania’s growth. As Tanzania became a gateway, the Bank became regional,” he said. “Dubai now allows us to complete the triangle linking global capital, Tanzania and East and Central Africa through a trusted African institution. »
East and Central Africa together represent a market of nearly 400 million people, defined by increasing intra-African trade, expanding infrastructure networks, vast mineral and energy resources and one of the youngest workforces in the world. Africa as a whole is home to 1.4 billion people, generates more than $3.4 trillion 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 capital remains a persistent constraint. CRDB Bank’s representative office in Dubai was designed to fill this gap by closing deals, structuring financing and mobilizing global capital for African projects that require both local understanding and international standards. “Africa has no shortage of opportunities,” noted Mr. Nsekela. “What is often missing is a bridge between capital and execution. 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 structuring and syndicated financing between the Gulf and Africa, using Tanzania as an anchor and East and Central Africa as a growth hinterland. The office also strengthens Africa’s engagement in Islamic finance, a global market exceeding $4 trillion in assets.
Neema Mori, Chairman of the Board of Directors of CRDB Bank, said the milestone reflects the growing confidence in African institutions to perform at the highest global level. “This is a statement about governance, capacity and trust,” she said. “CRDB Bank’s presence in Dubai demonstrates that African banks can anchor global partnerships while remaining firmly aligned with Africa’s development priorities. »
Leaders of 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 financial corridor and improves the flow of long-term capital to emerging markets.
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