Absa Group, one of South Africa’s largest banks, has opened its first Gulf office at Dubai International Financial Centre (DIFC), the bank and the financial center said in a statement on Thursday.
Absa Bank Limited (DIFC Branch) holds a Category 4 license from the Dubai Financial Services Authority (DFSA). The license allows it to arrange deals in investments, advise on financial products, and arrange and advise on credit.
The branch will not lend from its own balance sheet, Reuters reported. It will introduce Gulf corporates, investors and institutions to services delivered through Absa’s businesses in 16 African markets. The DFSA granted the license in July, Reuters said.
Absa said it sees opportunities with Gulf clients in infrastructure, energy, logistics, agriculture and fast-moving consumer goods.
Gulf-Africa corridor
Cheryl Buss, chief executive officer of Absa International, said the move “reflects the growing importance of the Gulf in Africa’s trade and investment landscape.”
Clinton Clarke, senior executive officer of the DIFC branch, said the office would bring Absa’s African market and sector specialists into talks with Gulf clients.
UAE non-oil trade with Africa reached $158 billion in 2025, up from about $112 billion a year earlier, according to UAE government figures cited by Reuters.
Absa follows South African lenders Standard Bank Group and Nedbank Group, as well as Investec, which already have offices in Dubai.
Arif Amiri, chief executive officer of DIFC Authority, said the center has become “an anchor point for institutions connecting capital, expertise and opportunities between the Middle East and Africa.”
