Bridging Continents: Unlocking Asia-Africa Opportunities连接大洲：释放亚非合作机遇連接大洲：釋放亞非合作機遇

Prepared for the Asian Financial Forum, this paper argues that as Asia seeks diversified investment destinations and Africa deepens regional integration, financial centers act as bridges connecting capital, innovation, and sustainable growth. Financial and investment relations between Africa and Asia, particularly through Hong Kong, have expanded significantly over the past two decades, positioning Hong Kong as a central gateway for Asian capital entering African markets — while African institutional investors, sovereign wealth funds and corporates increasingly access Hong Kong for trade financing, portfolio diversification, and capital market opportunities.本文为亚洲金融论坛而作，认为随着亚洲寻求多元化投资目的地、非洲深化区域一体化，金融中心正发挥着连接资本、创新与可持续增长的桥梁作用。过去二十年间，非洲与亚洲之间的金融与投资关系（尤其是通过香港）大幅扩展，使香港成为亚洲资本进入非洲市场的核心门户——与此同时，非洲的机构投资者、主权财富基金及企业也日益借助香港开展贸易融资、组合多元化配置及资本市场业务。本文為亞洲金融論壇而作，認為隨著亞洲尋求多元化投資目的地、非洲深化區域一體化，金融中心正發揮著連接資本、創新與可持續增長的橋樑作用。過去二十年間，非洲與亞洲之間的金融與投資關係（尤其是通過香港）大幅擴展，使香港成為亞洲資本進入非洲市場的核心門戶——與此同時，非洲的機構投資者、主權財富基金及企業也日益借助香港開展貿易融資、組合多元化配置及資本市場業務。

The paper contends that Africa's own financial centers — led by those in Kenya, Mauritius, Morocco, Nigeria, and Rwanda — serve as critical hubs for trusted access, information, and trade and investment facilitation, offering a concentrated ecosystem of banks, legal firms, and advisory services that lowers transaction costs and enhances project bankability. It points to Africa's substantial financing gap, estimated in the hundreds of billions of dollars annually for infrastructure, climate adaptation, and sustainable development, and identifies international connectivity as the primary means of overcoming barriers such as risk perception and the complexity of navigating 54 distinct national markets.本文认为，以肯尼亚、毛里求斯、摩洛哥、尼日利亚及卢旺达为代表的非洲本土金融中心，是提供可信赖渠道、信息服务及贸易投资便利化的关键枢纽，其集聚的银行、律所及咨询服务生态体系，有助于降低交易成本、提升项目的可融资性。文中指出，非洲每年在基础设施、气候适应及可持续发展方面存在的融资缺口高达数千亿美元，并认为国际互联互通是克服风险认知偏差、以及应对54个各具特色国家市场所带来的复杂性等障碍的主要途径。本文認為，以肯尼亞、毛里求斯、摩洛哥、尼日利亞及盧旺達為代表的非洲本土金融中心，是提供可信賴渠道、信息服務及貿易投資便利化的關鍵樞紐，其集聚的銀行、律所及諮詢服務生態體系，有助於降低交易成本、提升項目的可融資性。文中指出，非洲每年在基礎設施、氣候適應及可持續發展方面存在的融資缺口高達數千億美元，並認為國際互聯互通是克服風險認知偏差、以及應對54個各具特色國家市場所帶來的複雜性等障礙的主要途徑。

The paper also highlights the African Continental Free Trade Area (AfCFTA) as a complementary force to Asia-Africa connectivity, reducing barriers to intra-African trade and creating a more cohesive, attractive destination for foreign capital — enabling larger, pan-African projects that are particularly appealing to large Asian institutional investors. Structured around member profiles from Kenya, Morocco, Nigeria and Rwanda, the paper concludes by positioning Hong Kong's deep, liquid capital markets and concentration of Asian family offices and institutional investors as ideally suited to match long-term capital with Africa's long-term infrastructure and growth opportunities.本文亦强调，非洲大陆自由贸易区（AfCFTA）是促进亚非互联互通的补充力量，能够降低非洲区域内贸易壁垒，使非洲成为对外资更具吸引力、更为协调统一的投资目的地——从而推动更具规模的泛非项目落地，对亚洲大型机构投资者尤具吸引力。文章围绕肯尼亚、摩洛哥、尼日利亚及卢旺达的会员概况展开论述，最后总结指出，香港深厚且流动性充裕的资本市场，加上聚集了大量亚洲家族办公室及机构投资者，非常适合将长期资本与非洲的长期基础设施及增长机遇相匹配。本文亦強調，非洲大陸自由貿易區（AfCFTA）是促進亞非互聯互通的補充力量，能夠降低非洲區域內貿易壁壘，使非洲成為對外資更具吸引力、更為協調統一的投資目的地——從而推動更具規模的泛非項目落地，對亞洲大型機構投資者尤具吸引力。文章圍繞肯尼亞、摩洛哥、尼日利亞及盧旺達的會員概況展開論述，最後總結指出，香港深厚且流動性充裕的資本市場，加上聚集了大量亞洲家族辦公室及機構投資者，非常適合將長期資本與非洲的長期基礎設施及增長機遇相匹配。