Equity Group shareholders have approved the opening of a Representative Office in the United Arab Emirates (UAE), making Equity the first Kenyan bank to set up operations in the Middle East.
The group’s board on Wednesday, June 25, also approved all necessary actions to establish the office in UAE including executing and filing required documents and agreements, paying associated fees and expenses, and setting up the necessary structures, commercial arrangements, and other related measures to support the office’s operations.
According to the bank, the Dubai hub will facilitate business, trade and investment opportunities between East and Central Africa, the UAE, and the wider Middle East, India, Central and South Asia regions.
The representative office will also enable Equity Bank to fund Kenyan and East African firms and investors with business interests in the Emirates and even for foreign traders, expanding its market base and customer portfolio.
“The establishment of a representative office in the UAE marks a strategic step in deepening regional and global connectivity. With our shareholders’ continued trust, we are confident in our ability to drive meaningful transformation, sustainable development, and long-term value creation across the continent,” said Equity Group Chairman Isaac Macharia.
Equity Group to Become First Kenyan Bank to Open Branch in UAE
The move will also mark Equity’s first venture outside Africa and positions the lender to tap into fast‑growing corridors in agribusiness, infrastructure, and energy.
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Currently, Equity has a representative office in Addis Ababa, Ethiopia.
The bank will have to await approval from the Central Bank of Kenya (CBK) and the Emirati regulator.
On his part, Equity Group CEO James Mwangi, said the UAE office is a strategic bridge that links Africa’s entrepreneurial energy with global capital.
“Our customers will gain access to new markets. At the same time, Gulf investors will enjoy a direct line into Africa’s fastest‑growing region,” he said.
With regulatory approvals pending in both jurisdictions, Equity expects the UAE office to be operational in early 2026.
The lender says the hub will accelerate the bank’s vision of becoming Africa’s “one-stop financial services platform,” connecting entrepreneurs, investors and development partners across continents.
Also Read: Equity Bank CEO Receives Global Award, Joins Exclusive Club of Nelson Mandela and Winston Churchill
Why Dubai Is Key to Equity Group’s Next Growth Phase
Equity Group’s decision to set up an office in Dubai is strategic for several key reasons.
First, it will enhance trade facilitation by offering on-site support for letters of credit and supply-chain finance, helping to reduce delays in payment and settlement processes for businesses.
Secondly, with millions of East Africans living and working in the Gulf region, the office will strengthen diaspora banking by making remittance and mobile money services faster and more accessible.
Being close to major sovereign wealth funds and financial institutions in the UAE will also position Equity at a vantage point to attract long-term capital for infrastructure and green investment projects across Africa.
The lender’s shareholders also approved the proposed dividend of Ksh4.25 per share, paving the way for the payment of Ksh16 billion in dividends by the end of June.
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