Speaking in an exclusive interview with IGIHE during the recently concluded Africa CEO Forum held in Kigali, Ms Loretta Lee, Associate Director-General of Investment Promotion at Invest Hong Kong, said the city with a population of around 7.5 million people is actively engaging African businesses to explore Hong Kong as a launchpad into the Asia-Pacific region.
“This is my first time in Rwanda and my first time on the African continent,” Ms Lee said in Kigali following another trip to Johannesburg, South Africa. “We are truly excited about the opportunities for future collaboration between Hong Kong, Rwanda, and Africa.”
Hong Kong’s push to become a “gateway to Asia”
Hong Kong is positioning itself as a regional hub for African companies aiming to access Asian markets, particularly China and the wider Asia-Pacific region. According to Ms Lee, the strategy is built on Hong Kong’s established strengths in trade facilitation, financial services, and professional support.
“We would like to position Hong Kong as the bridge between Africa and the East,” she said. “Hong Kong is the Asian hub for companies that decide to expand into the Asia-Pacific.”
The message was echoed during the Kigali forum, where Hong Kong officials engaged with African business leaders exploring eastward expansion.
A key pillar of Hong Kong’s strategy is its tax regime, which Ms Lee described as simple, competitive, and business-friendly.
Hong Kong’s profits tax rate stands at 16.5%, with a reduced rate of 8.25% for the first HK$2 million of profits. The territory does not impose value-added tax, sales tax, or withholding tax, making it one of the most streamlined tax environments globally.
“Our tax system is very simple,” Ms Lee said. “We don’t have VAT, we don’t have sales tax, and we don’t have withholding tax. It makes it very easy for companies to navigate.”
According to InvestHK, these conditions are intended to encourage more African enterprises to establish operations in Hong Kong as a base for regional expansion.
Scaling African businesses through Hong Kong
Beyond taxation, Hong Kong is also promoting its ecosystem of banking, legal, and professional services as tools to help African companies scale internationally.
Ms Lee highlighted that Hong Kong acts as a platform for growth, particularly for companies seeking capital and cross-border expansion.
“I believe scaling up is very important for African companies,” she said, referring to the significance of this year’s Africa CEO Forum in Kigali and its central theme on the imperative to “scale or die.” “With Hong Kong, we can provide business and professional services and financial services to help companies scale up.”
She added that Hong Kong’s role as a global financial centre allows companies to raise capital efficiently and deploy it across emerging markets.
Linking Kigali and Hong Kong’s financial ecosystems
A key area of potential collaboration identified during the visit is between Hong Kong and Rwanda’s emerging financial ecosystem, including the Kigali International Financial Centre.
Ms Lee said both jurisdictions could complement each other as regional financial gateways, Hong Kong for Asia and Kigali for Africa.
“We see Invest Hong Kong and the Kigali International Financial Centre as partners in Africa and Asia,” she said.
Hong Kong is also positioning itself within broader China–Africa economic flows. Ms Lee noted that African demand for Chinese technology, particularly in manufacturing and electric vehicles, aligns with Hong Kong’s role as a funding and facilitation hub.
She cited Chinese firms already active in Africa, including companies in consumer electronics and EV manufacturing as examples of how Hong Kong channels capital into overseas markets.
“We see Chinese companies using Hong Kong as a funding hub, raising funds in Hong Kong and investing in Africa,” she remarked.
Strong interest from African enterprises
During the Kigali discussions, Ms Lee said there was clear interest from African companies looking eastward, particularly toward China and Hong Kong as entry points into Asia.
Invest Hong Kong reported that around 11,000 overseas and mainland companies are currently based in Hong Kong, including 1,500 regional headquarters, underscoring the city’s position as a global business base.
Ms Lee said the goal is to attract more African firms into this ecosystem.
“We would like to see more African companies set up in Hong Kong,” she reiterated.
Hong Kong’s “Go Global” strategy
Hong Kong’s outreach is also tied to its broader “Go Global” initiative, which supports mainland Chinese companies expanding internationally using Hong Kong as a platform for finance, services, and regulatory support.
This framework, Ms Lee said, also creates spillover opportunities for African firms, particularly in technology and manufacturing partnerships.
Ms Lee emphasised that the Kigali engagement is not symbolic but part of a structured follow-up process.
“We focus very much on efficiency,” she said. “We will follow up promptly, line up Zoom calls, and help companies take things forward.”
She added that InvestHK’s model includes end-to-end support, from initial market research to business setup and post-establishment promotion, noting, “Invest Hong Kong is here to help.”
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