CRDB Dubai licence makes Tanzanian lender first East African bank in DIFC

Tuesday 25th November 2025

by inAfrika Newsroom

Tanzania’s CRDB Bank has secured a CRDB Dubai licence to open a representative office in Dubai International Financial Centre (DIFC), becoming the first East African bank admitted to the Gulf hub. The Dubai Financial Services Authority granted approval for a presence that will target trade, investment and diaspora flows between East and Central Africa and the Middle East.

The CRDB Dubai licence allows the bank to market services, build relationships and support clients in DIFC, although core banking operations will remain regulated in Tanzania, Burundi and DR Congo. Executives say the office will act as a bridge for African corporates and SMEs seeking capital, partners and structured trade deals with Gulf investors. Over 5 million CRDB customers could benefit indirectly through better access to correspondent banking and regional liquidity.

DIFC officials welcomed the move and described it as a sign that African banks now see Dubai as a natural gateway to global markets. CRDB has appointed Jackson Kehengu as principal representative to lead the new office and coordinate with the group’s leadership. The bank, which has grown through retail, SME and corporate banking at home, now wants to position itself as a regional player in trade, climate finance and project funding.

CRDB Dubai licence to deepen Africa–Gulf finance links

According to CRDB, the CRDB Dubai licence will help structure deals in sectors such as agriculture, logistics, energy and tourism. The bank expects to use Dubai to connect African exporters with buyers and investors from the wider Middle East and South Asia region.

Moreover, CRDB plans to use DIFC networks to tap green and blended-finance instruments for infrastructure and climate-related projects in Tanzania and its neighbours. However, regulators will watch how the bank manages cross-border risks, including compliance, foreign-exchange exposure and concentration in a single financial centre.

Why it matters for Africa

The CRDB Dubai licence matters for Africa because it signals a shift from relying only on global North financial hubs to using South–South corridors more strategically. An East African bank with a structured presence in DIFC can help African firms price risk better, access new investors and negotiate fairer trade terms. This may reduce dependence on intermediaries that capture margins between African exporters and Gulf buyers. If CRDB executes well, other African lenders could follow, creating a network of continent-rooted banks operating in global centres while still anchored at home. That would strengthen Africa’s voice in cross-border finance and payments.