Major South African bank expands into another international market

• Absa has opened a new office in Dubai, allowing the bank to serve its Africa-based clients seeking to do business in Gulf nations as well as Middle East-based firms wanting to access the region.
• Gulf countries have invested more than $100 billion in Africa since 2014, with imports and exports between the UAE and sub-Saharan Africa increasing by more than 30% and trade between Saudi Arabia and the region increasing 12 times.
• Absa joins rivals Investec, Standard Bank, and Nedbank in having offices in Dubai, adding to its growing international business portfolio.