Equity Group Holdings Plc, Kenya’s largest financial institution, plans to open a new office in the United Arab Emirates in the fourth quarter of 2025, aiming to strengthen trade and investment links between Africa and the Gulf region.
The expansion is part of Equity’s strategy to tap into deep capital pools and logistics networks in the Middle East, particularly as Gulf nations increase their focus on African investment. According to CEO James Mwangi, the bank is in the final stages of obtaining regulatory approvals for the move.
Equity joins other African financial giants like Absa Group, Standard Bank, and United Bank for Africa, which have also extended operations into the Gulf region to attract investors interested in Africa’s vast opportunities in agriculture, energy, and critical minerals needed for the green transition.
“The Middle East offers strong logistics and investment capital. Combined with growing markets in India and China, this creates new waves of demand for African goods and services,” said Mwangi.
Recent reports indicate Gulf nations have engaged in or concluded over $6 billion worth of energy-related deals across Africa within weeks. Bilateral trade between Africa and the UAE alone surged 38% over two years, reaching $86 billion by the end of 2023.
As Gulf states, including the UAE and Saudi Arabia, intensify their economic footprint in Africa—from acquiring stakes in mining and energy to food security initiatives—Equity’s UAE office positions it at the heart of this cross-regional growth.