Absa Group has opened a new office in Dubai International Financial Centre (DIFC) to support trade and investment between Gulf markets and Africa.
The Dubai presence brings Absa closer to corporates, investors and financial institutions across the Gulf Cooperation Council. The company said the office will help connect regional organisations with investment opportunities, market expertise and its wider African banking network.
Absa identified infrastructure, energy, logistics, agriculture and fast-moving consumer goods as key areas of opportunity along the UAE and GCC-Africa corridor. The bank said regional corporates, sovereign-linked entities, institutional investors and trading houses are exploring investment, trade and expansion opportunities across these sectors.
Zaid Moola, chief executive of corporate and investment banking, said the office would strengthen Absa’s ability to originate and support cross-border flows. Cheryl Buss, CEO of Absa International, said the move reflected the Gulf’s growing importance in Africa’s trade and investment landscape.
Absa Bank Limited’s DIFC branch is authorised by the Dubai Financial Services Authority under a Category 4 licence. It can arrange investment deals, advise on financial products, and arrange and advise on credit for eligible clients.
Source: Big News Network
