ABSA Group Ltd, the third-largest South African bank in terms of assets, plans to open a representative office in Dubai in early 2026 to strengthen its presence in the growing Middle East and Africa investment corridor. The lender's corporate and investment banking (BFI) unit is awaiting regulatory approval, CEO Yasmin Masithela said

ABSA will join its rivals Investec, Standard Bank, Rand Merchant Bank and Nedbank in Dubai. This new location, which was announced by Yasmin Masithela, CEO of the group's investment and investment banking unit, aims to support African companies wishing to develop in the Gulf region, as well as Middle Eastern companies wishing to invest in Africa. The countries of the Gulf Cooperation Council (GCC) alone have invested more than $100 billion on the continent, according to the World Economic Forum

In addition to its expansion in Dubai, Absa recently opened an office in Beijing, with the aim of strengthening commercial ties between Africa and other key markets.

In parallel with its geographic expansion, in December 2024, the group concluded a $300 million green syndicated loan, marking an important step in its sustainability strategy. This loan, the first of its kind for a South African bank, aims to finance green assets in accordance with Absa's sustainable finance issuance framework, as well as its commitment to a low-carbon economy

In addition, in October 2024, the African Development Bank and Absa unveiled a multi-billion rand financial package to expand sustainable capital markets and boost economic growth for women and youth in South Africa. This agreement includes a sustainability-linked subordinated loan of R1.7 billion and an inaugural social bond of R1 billion, whose funds will be used to provide affordable housing loans to women