Equity Bank Group has secured shareholder approval to open a representative office in the United Arab Emirates, marking a critical step in its ambition to expand outside Africa for the first time.

The move, once cleared by the Central Bank of Kenya and Emirati regulators, will anchor the bank’s operations in the Gulf region and enable it to better support East African businesses and investors operating in or trading with the UAE.

The planned office will not offer full banking services like taking deposits or issuing loans but will serve as a marketing and relationship hub, helping to connect clients and foster business opportunities.

This expansion is aimed at positioning Equity as a strategic link between East and Central Africa and key markets in the Middle East, India, and parts of Asia.

Equity Bank said the UAE office would "facilitate business, trade and investment opportunities between East and Central Africa, the UAE, and the wider Middle East, India, Central and South Asia regions.”

Group Chairman Isaac Macharia described the planned office as a major move in strengthening the bank’s cross-border presence

. “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,” he said.

The office will be Equity's second outside Kenya after Addis Ababa and the first by a Kenyan bank in the Middle East, representing a milestone in the growth of the country’s financial services sector.

During the same shareholder meeting, Equity’s proposal to issue a dividend of Sh4.25 per share was approved, setting the stage for a payout of Sh16 billion by the end of June.

Shareholders also ratified the election of six new board members: Faridah Khambata, Nick O’Donohoe, Aloysius Uche Ordu, Obadiah Barara, Lakshmi Shyam-Sunder, and David Mutombo.