Absa has established its first office in the Gulf, setting up operations in Dubai to take advantage of expanding trade and investment flows between the UAE and Africa. The decision places the South African bank at the center of a region where non-oil trade volume climbed to $158 billion in 2025, up from $112 billion the previous year, according to UAE government figures.
The new branch, located in the Dubai International Financial Centre (DIFC), will specialize in structuring investment partnerships, delivering financial advisory services, and connecting clients to Absa’s full range of corporate and investment banking services across 16 African markets. The facility operates under a Category 4 license from the Dubai Financial Services Authority, enabling it to provide guidance on financial instruments and credit arrangements without engaging in direct lending from its own balance sheet.
Investors from the Gulf, including sovereign wealth funds, asset managers, and advisory firms, are actively pursuing opportunities in infrastructure, energy, logistics, and agriculture. The bank will provide localized expertise and customized support to help these investors manage the differing regulatory and business environments they encounter across Africa. This initiative supports Dubai’s growing function as a financial link between the Gulf and Africa, channeling investment into trade, natural resources, and consumer markets.
Absa joins other South African banks already present in Dubai, such as Investec, Standard Bank Group, and Nedbank Group, but its move reflects a broader effort to reduce dependence on its traditional markets. Currently, South Africa, Kenya, and Ghana together account for over 80 percent of the bank’s earnings, according to Bloomberg. The group has also strengthened its position in Uganda and Kenya this year, acquiring Standard Chartered’s wealth and retail banking operations in Uganda and increasing its ownership stake in Kenya.
Dubai’s strategic location makes it an ideal base for investors targeting African markets while allowing Absa to utilize its existing network rather than establishing a separate lending operation in the region. Cheryl Buss, head of Absa International, emphasized that the Gulf’s increasing role in Africa’s trade flows made the office a logical step. The bank’s approach focuses on bridging international capital with African growth opportunities, with plans to expand the Dubai office as cross-border transactions rise.
