By Michelle Ndaga
Tanzania’s CRDB Bank PLC has made history by becoming the first financial institution from East Africa to secure a licence to operate within the Dubai International Financial Centre (DIFC).
The approval was granted by the Dubai Financial Services Authority (DFSA), marking a major strategic milestone for both the bank and the region.
The newly established representative office will serve as CRDB’s gateway to the Gulf financial ecosystem, enabling closer engagement with international investors, diaspora clients and global corporations operating in the Middle East.
The bank has appointed Jackson Kehengu as the Principal Representative to oversee operations and drive business development in the market.
CRDB Group CEO Abdulmajid Nsekela said the move strengthens East Africa’s presence on the global financial stage, positioning the bank to support cross-border trade, capital inflows and investment partnerships.
DIFC officials welcomed the development, noting that the arrival of an East African lender reinforces Dubai’s growing role as a connector between emerging markets and global capital hubs.
The CRDB office is expected to focus on trade finance, investment banking linkages, diaspora banking and enhancing relations with international development partners.
