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| Participants at the launch ceremony of the CRDB Bank Dubai Representative Office watch a drone show displaying the Bank’s logo in the United Arab Emirates, held at the InterContinental Hotel, Dubai. |
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| The Minister for Foreign Affairs and East African Cooperation, Ambassador Mahmoud Thabit Kombo (second left), accompanied by the Zanzibar Minister of Finance and Planning, Dr. Juma Malik Akil (first right), the Chairperson of the CRDB Bank Board of Directors, Prof. Neema Mori (left), and the Group CEO of CRDB Bank, Abdulmajid Nsekela (second right), upon their arrival at the official launch ceremony of the CRDB Bank Dubai Representative Office, held at the InterContinental Hotel, Dubai. |
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| The Minister for Foreign Affairs and East African Cooperation, Ambassador Mahmoud Thabit Kombo (centre), together with the Chairperson of the CRDB Bank Board of Directors, Prof. Neema Mori, and the Group CEO of CRDB Bank, Abdulmajid Nsekela, jointly officiate the official launch of the CRDB Bank Dubai Representative Office. |
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| The Minister for Foreign Affairs and East African Cooperation, Ambassador Mahmoud Thabit Kombo (centre), and the Group CEO of CRDB Bank, Abdulmajid Nsekela, greeting investors and heads of institutions from Dubai and the United Arab Emirates during the official launch ceremony of the CRDB Bank Dubai Representative Office, held at the InterContinental Hotel, Dubai. |
Dubai, UAE | 22 January 2026
Africa–UAE economic relations reached a defining milestone with the official launch of the CRDB Bank Dubai Representative Office at the Dubai International Financial Centre (DIFC)—marking the first time a Tanzanian bank has established a presence in one of the world’s most influential global financial hubs.
The development positions Tanzania, alongside the wider East and Central Africa region—an economy approaching USD 800 billion—directly within the global capital ecosystem, using a home-grown African financial institution as a bridge between regional opportunity and international finance.
Strengthening Africa–UAE Financial Ties
The launch ceremony, held at the InterContinental Dubai Festival City, brought together senior leaders from international financial institutions, global investors, multinational corporates, and development finance partners. The strong turnout reflected rising global interest in Africa as the world’s next major growth frontier.
The event was officiated by Ambassador Mahmoud Thabit Kombo, Minister for Foreign Affairs and East African Cooperation, who delivered the keynote address on behalf of H.E. Samia Suluhu Hassan, President of the United Republic of Tanzania.
Speaking for the President, Minister Kombo commended CRDB Bank for advancing Tanzania’s national economic vision through a strong domestic institution capable of operating at global standards. He described Dubai as a strategic choice, citing its position as a global capital hub and the robust regulatory environment of DIFC.
“The presence of a Tanzanian bank in Dubai will deepen economic, trade and investment relations between the United Republic of Tanzania and the United Arab Emirates, building on bilateral trade that has already reached approximately USD 2.5 billion annually, while also strengthening East and Central Africa’s linkages with global markets,” said Minister Kombo.
A Signal of Financial Sector Maturity
Also addressing the event, Dr. Juma Malik Akil, Minister of Finance of the Revolutionary Government of Zanzibar, said the expansion reflects the growing maturity and sophistication of Tanzania’s financial sector.
“This milestone reflects the ability of our domestic financial institutions to operate confidently within global financial markets,” he said.
Tanzania, with a population exceeding 60 million, has sustained 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 economic disruption. This resilience has positioned the country as a natural gateway economy, linking the Indian Ocean with landlocked markets across East and Central Africa.
CRDB Bank’s Regional Growth Strategy
Founded over 30 years ago, CRDB Bank has grown alongside Tanzania’s economic transformation and regional integration agenda. Today, the Group serves more than six million customers, with a balance sheet exceeding USD 9 billion, and operations spanning Tanzania, Burundi and the Democratic Republic of Congo—covering key trade, logistics, and investment corridors.
Speaking at the launch, Abdulmajid Nsekela, Group CEO of CRDB Bank, described the Dubai expansion as a natural progression in the Bank’s regional strategy.
“CRDB Bank was built to finance Tanzania’s growth. As Tanzania became a gateway, the Bank became regional. Dubai now allows us to complete the triangle—linking global capital, Tanzania, and East and Central Africa through one trusted African institution,” he said.
Bridging Global Capital and African Opportunity
East and Central Africa represent a combined market of nearly 400 million people, characterized by rising intra-African trade, expanding infrastructure networks, vast mineral and energy resources, and one of the youngest labour forces globally. Africa as a whole hosts 1.4 billion people, generates over USD 3.4 trillion in GDP, and is projected to account for 25 percent of the global population by 2050.
Despite this scale, access to long-term and structured capital remains a key constraint. The CRDB Bank Dubai Representative Office has been established to address this gap by originating deals, structuring financing solutions, and mobilising global capital for African projects that require both local expertise and international standards.
“Africa does not lack opportunity. What it often lacks is a bridge between capital and execution. This office is that bridge,” Mr. Nsekela noted.
Expanding Trade Finance and Islamic Finance Links
By establishing a Tanzanian banking presence at DIFC, CRDB Bank is expected to deepen trade finance, cross-border investment structuring, and syndicated financing between the Gulf and Africa—anchoring Tanzania as the entry point and East and Central Africa as the growth hinterland.
The office also strengthens Africa’s engagement with Islamic finance, a global market exceeding USD 4 trillion in assets.
Neema Mori, Chairperson of the CRDB Bank Board of Directors, said the development underscores rising global confidence in African institutions.
“This is a statement about governance, capability and trust. CRDB Bank’s presence in Dubai demonstrates that African banks can anchor global partnerships while remaining firmly aligned with Africa’s development priorities,” she said.
Leadership from the Dubai Financial Services Authority (DFSA) welcomed CRDB Bank into the DIFC ecosystem, noting that the entry of an African bank with deep regional roots strengthens the Africa–Middle East financial corridorand enhances the flow of long-term capital into emerging markets.
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| The Minister for Foreign Affairs and East African Cooperation, Ambassador Mahmoud Thabit Kombo, speaking upon arrival at the official launch ceremony of the CRDB Bank Dubai Representative Office. |
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| The Group CEO of CRDB Bank, Abdulmajid Nsekela, speaking upon arrival at the official launch of the CRDB Bank Dubai Representative Office. |
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| The Zanzibar Minister of Finance and Planning, Hon. Dr. Juma Malik Akil, speaking upon arrival at the official launch of the CRDB Bank Dubai Representative Office. |
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| The Ambassador of Tanzania to the United Arab Emirates, Hon. Ambassador (Retired Lieutenant General) Yacoub Mohammed, speaking upon arrival at the official launch ceremony of the CRDB Bank Dubai Representative Office. |
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| The Minister for Foreign Affairs and East African Cooperation, Ambassador Mahmoud Thabit Kombo (centre), in a group photo with the Chairperson of the CRDB Bank Board of Directors, Prof. Neema Mori, the Group CEO of CRDB Bank, Abdulmajid Nsekela, members of the CRDB Bank Board of Directors and its subsidiaries, as well as investors who attended the official launch of the CRDB Bank Dubai Representative Office, held at the InterContinental Hotel, Dubai. |
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| Participants at the official launch of the CRDB Bank Dubai Representative Office, held at the InterContinental Hotel, Dubai. |
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