CRDB Bank has opened a representative office in Dubai, becoming the first Tanzanian bank to establish a presence in the Dubai International Financial Centre.
The move reflects growing financial and trade links between Africa and the UAE, and aims to connect Gulf investors with opportunities in East and Central Africa.
Dubai office launch
The new office was officially launched at DIFC during a ceremony attended by senior figures from international banks, investment firms, multinational companies and development finance institutions. The opening highlights Dubai’s role as a gateway for global capital and Africa’s position as an emerging growth region.
Tanzania-UAE ties
The event was officiated by Ambassador Mahmoud Thabit Kombo, Tanzania’s Minister for Foreign Affairs and East African Cooperation, who delivered a keynote address on behalf of President Samia Suluhu Hassan.
“The presence of a Tanzanian bank in Dubai will deepen economic, trade and investment relations between Tanzania and the United Arab Emirates, building on bilateral trade that has already reached approximately USD 2.5 billion annually, while strengthening Tanzania’s linkages with global markets,” Minister Kombo said.
He described Dubai as a strategic choice due to its strong regulatory framework and status as a global financial centre.
Regional gateway role
Tanzania has recorded average GDP growth of 6 to 7 percent for more than 20 years, while maintaining single-digit inflation and overall macroeconomic stability. With a population exceeding 60 million, the country has positioned itself as a key gateway linking the Indian Ocean with landlocked markets in East and Central Africa.
CRDB Bank has expanded alongside this regional role. Founded 30 years ago, the bank now serves more than six million customers across Tanzania, Burundi and the Democratic Republic of Congo, with assets exceeding USD 9 billion.
Bank’s strategy
Abdulmajid Nsekela, Group CEO of CRDB Bank, said the Dubai expansion aligns with the bank’s long-term regional strategy.
“CRDB Bank was built 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 one trusted African institution.”
East and Central Africa together account for nearly 400 million people, while Africa’s total GDP stands at more than USD 3.4 trillion. Despite this scale, access to long-term and structured financing remains limited across many markets.
Capital and finance
According to the bank, the Dubai representative office will focus on originating deals, structuring financing and mobilising international capital for African projects. It is also expected to support trade finance, cross-border investment and syndicated lending between the Gulf and Africa, while strengthening links to Islamic finance, a sector valued at more than USD 4 trillion globally.
Neema Mori, Chairperson of CRDB Bank’s Board of Directors, said the move reflects confidence in African financial institutions.
“This is a statement about governance, capability 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.”
Officials from the Dubai Financial Services Authority welcomed the bank’s entry into DIFC, noting that it would strengthen financial connections between Africa and the Middle East and support the flow of long-term capital into emerging markets.
