Africa-Press – Tanzania. ✏️ *Content*
CRDB Bank Plc has entered the Dubai International Financial Centre (DIFC), strengthening its international presence as Tanzania positions itself to attract foreign investment and expand trade links.
The Dubai operation, to be opened today, established as a representative office within the DIFC, is CRDB’s third international office.
The office is expected to support trade finance, investment flows and cross-border banking services between the country, the Gulf region and global markets, leveraging Dubai’s role as a leading international financial hub.
CRDB Bank Group CEO Abdulmajid Nsekela said the office will be officiated by Tanzania’s Minister for Foreign Affairs and East African Cooperation, Amb Mahmoud Thabit Kombo, with the Dubai Financial Services Authority (DFSA) represented by its Chief Executive, signalling the regulatory and diplomatic significance of the expansion.
“We have identified a strategic opportunity to serve as a bridge between traders and investors in the UAE and East Africa, while also enabling East African businesses to access markets and capital across the Middle East,” Mr Nsekela said during a media briefing yesterday.
He said the Dubai presence aligns with CRDB Bank’s long-term international growth strategy, leveraging Dubai’s status as a global hub for trade, investment and capital flows.
Mr Nsekela also commended the government for strengthening economic diplomacy through an open-door investment policy, noting that sustained policy support has been instrumental in enabling Tanzanian financial institutions to expand beyond the continent.
The Dubai Representative Office, which began operations in October last year, is led by Jackson Kehengu and is expected to play a catalytic role in facilitating trade, investment and development finance between the two regions. CRDB Bank currently operates in Tanzania, Burundi and the Democratic Republic of Congo (DRC), and has steadily positioned itself as a regional financial partner for exporters, importers and investors.
“The progress achieved within a short period is a strong indicator of the strategic relevance of Dubai to our international growth ambitions,” Mr Nsekela said.
Dubai has emerged as a critical gateway for global trade, particularly in the aftermath of the Covid-19 pandemic and amid ongoing geopolitical shifts, making it an ideal platform for strengthening East Africa–Middle East trade and investment linkages.
CRDB Bank’s Dubai presence, he said, is designed to deepen these linkages by offering financial advisory services, investment facilitation and structured trade solutions, while working closely with governments and development partners to unlock capital for productive investments.
Echoing this, Dr Hildebrand Shayo, an economistcum-investment banker, said opening a branch in Dubai would allow CRDB to access global networks and capital.
“This is not just about expanding the bank’s geographic reach; it would give CRDB access to international funds, investors, and wider financial markets, while supporting corporate clients, trade finance, and the Tanzanian diaspora,” Dr Shayo said.
Vertex International Securities Advisory and Capital Markets Manager Ahmed Nganya also told that CRDB’s Dubai launch represents a strategic move to unlock new growth opportunities.
“By expanding its geographical presence and service reach, the bank positions itself as a preferred gateway to Tanzania for diaspora and foreign investors,” Mr Nganya said.
The Bank acknowledged the support of key institutions, including the Tanzania Embassy to the UAE, the Bank of Tanzania, the DFSA and the DIFC, saying their collaboration was critical in establishing the Dubai Representative Office. Trade between Tanzania and the UAE has now surpassed 2.2 billion US dollars, presenting significant opportunities in sectors such as agriculture, energy, infrastructure, manufacturing, logistic
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