African business hub to be launched in Dubai

Dubai International Financial Centre has been set to become the newly operational Deutsche Bank hub as it merges with its African operations.

Ashok Aram

According to an article released on Bloomberg, the Dubai International Financial Centre has grown exceptionally since its launch in 2004. With 21 of the world’s most prestigious banks as its clientele, the centre now connects the African and Middle Eastern markets with the economies of Europe, Asia and the Americas.

After making the announcement at the Bloomberg Future Cities Forum on the 17 of March, Ashok Aram, who heads Deutsche Bank in the Middle East, will be taking over responsibility for the Africa business, which will include the specific responsibilities of South Africa and Nigeria.

In an interview with World Finance, Aram stated:

"We see this as a fantastic opportunity for our South African business to grow as the relationships between the Sub-Saharan Africa region and the Gulf Cooperation Council countries."

Not only does the Deutsche Bank’s expansion into Dubai aim to gain greater access to Africa’s fastest-growing economies, but it also intends to initiate partnership with Asian clients.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Osinbajo believes that young people will solve Nigeria's problems

APC Chieftain says almost all party members are angry about Fani-Kayode’s defection

Police begin investigation into Enugu INEC office fire incident

Buhari approves incorporation of NNPC, appoints board members

APC foundation members in Enugu send 'SOS' message to Buhari

Have Nigerians become comfortable with the Twitter ban? [Pulse Contributor's Opinion]

Thugs set Enugu INEC office on fire

COVID-19: FG removes India from restricted countries’ list

Obadiah Mailafia, former deputy governor of CBN dies at 64