The move strengthens financial and investment links between the Middle East and a regional African market with a combined economic output approaching $800 billion, as international investors increasingly seek exposure to Africa’s fast-growing economies.

Speaking on behalf of Tanzanian President Samia Suluhu Hassan, Foreign Affairs Minister Mahmoud Thabit Kombo said the decision to locate the office in Dubai was strategic, citing the city’s global financial reach and the regulatory credibility of the DIFC.

“The presence of a Tanzanian bank in Dubai will deepen trade, investment and financial relations between Tanzania and the United Arab Emirates,” Kombo said, noting that bilateral trade between the two countries has reached about $2.5 billion a year.

The launch event, attended by more than 300 guests including international investors, multinational companies and development finance institutions, reflects rising global interest in Africa as a long-term growth destination.

Zanzibar’s Finance Minister Juma Malik Akil said the opening of the office demonstrated the growing maturity of Tanzania’s financial sector.

“This milestone reflects the ability of Tanzanian institutions to operate confidently within global financial markets,” he said.

Tanzania has recorded average economic growth of between 6% and 7% for more than two decades, supported by single-digit inflation and macroeconomic stability, according to official data. With a population of more than 60 million, the country has positioned itself as a gateway linking Indian Ocean trade routes with landlocked markets across East and Central Africa.

Founded three decades ago, CRDB Bank has expanded alongside Tanzania’s regional integration agenda. The group now serves more than six million customers across Tanzania, Burundi and the Democratic Republic of Congo, with assets exceeding $9 billion.

Chief Executive Abdulmajid Nsekela said the Dubai expansion was a natural step in the bank’s regional strategy.

“Dubai allows us to link global capital, Tanzania and East and Central Africa through one trusted African institution,” he said.

East and Central Africa together represent a market of nearly 400 million people, driven by infrastructure development, mineral and energy resources and a rapidly growing workforce. Africa’s total population of about 1.4 billion is projected to rise to a quarter of the global population by 2050.

The Dubai office is also expected to strengthen CRDB’s engagement with Islamic finance, a sector with assets exceeding $4 trillion globally.

CRDB Group Chairperson Neema Mori said the expansion signalled growing confidence in African financial institutions.

“This is a statement about governance, capability and trust,” she said.

The office will operate as an international liaison, supporting investor relations and cross-border business engagement, but will not conduct regulated banking transactions.

Notes to Editors

·      CRDB Bank has opened a representative office in Dubai International Financial Centre (DIFC), becoming the first Tanzanian bank to establish a presence in a major global financial hub.

·      The office is designed to act as a strategic liaison, facilitating investment flows, trade finance linkages and investor engagement between theGulf region and East and Central Africa.

·      East and Central Africa together represent a market of nearly 400 million people, with combined economic output approaching US$800 billion.

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