Invest Hong Kong (InvestHK) is set to broaden its strategic engagement with the African continent as Ms Loretta Lee, associate director-general of Investment Promotion last Sunday, May 10 embarked on an eight-day visit to Johannesburg, South Africa, and Kigali, Rwanda.
Hong Kong is increasingly interested in Africa for a mix of economic, strategic, trade, and geopolitical reasons.
The relationship is largely driven by Hong Kong’s position as a global financial and logistics hub connected to China’s international expansion strategy.
Trade and Market Expansion
Africa represents one of the world’s fastest-growing consumer markets, with a young population, rising urbanisation, and expanding digital economy.
Hong Kong businesses see opportunities in consumer goods, fintech, logistics, telecommunications, infrastructure, e-commerce, and manufacturing partnerships.
Ms Loretta Lee’s mission, according to findings by Techeconomy, aims to strengthen economic ties with African economies and promote Hong Kong as the premier springboard for African enterprises to tap into the Chinese Mainland and Asia-Pacific markets.
Ms Lee said,
“Africa holds a strategic position in the Global South, representing a vital engine of growth in an era of global economic uncertainty. Interconnectivity is the key to unlocking this potential, and Hong Kong plays a strategic role in linking capital, talent, and innovation and technology between Africa, the Chinese Mainland, and international markets to drive high-quality, multilateral growth. As the Government’s arm for both inward investment and Chinese Mainland enterprises aiming to go global, InvestHK facilitates two-way investment through strategic market insights, extensive global access, targeted promotion and policy facilitation. ”
Ms Lee will visit Johannesburg from May 10 to 13 to meet with representatives from the local chambers, financial institutions, banks, fintech interests, and business and professional services sectors.
Extending her mission to Kigali, Rwanda, from May 13, Ms Lee will represent InvestHK at the Africa CEO Forum to drive high-level exchanges with C-suite executives from the continent’s leading multinationals.
African enterprises establishing a presence in Hong Kong can benefit from a globally recognised common law system and Asia’s most competitive tax regime.
Most recently, Hong Kong has further sharpened its competitive edge by announcing a halve in the profits tax to 8.25 per cent from the standard 16.5 per cent for qualifying physical commodity traders. By combining this fiscal incentive with the city’s status as the world’s pre-eminent offshore Renminbi hub, Hong Kong offers African commodities exporters a high-liquidity, efficient gateway to Asian markets.
In line with the advancement of the National 15th Five-Year Plan, Hong Kong is leveraging its status as a “super connector” and “super value-adder” to support national development.
As China-Africa economic relations pivot towards high-value trade and investment, Hong Kong is uniquely positioned to accelerate two-way capital flows – spurring growth across finance, shipping, and innovation and technology.
Citing the South African national rugby team’s recent first-ever title at the Hong Kong Sevens, Ms Lee emphasised that such vibrant people-to-people connections are not merely symbolic, but serve as a meaningful foundation for driving bilateral economic connection.
