Goldman Sachs: Multiple African countries seek to expand wealth management business and aim to leverage Hong Kong for global investment opportunities

The Gold Hair Bureau, in conjunction with the International Financial Center Africa Branch, released a research report indicating that African sovereign wealth funds and large enterprises expect to utilize Hong Kong to achieve portfolio diversification and access global investment opportunities.

Representatives from Africa pointed out that there is a huge demand for infrastructure locally, and many Chinese institutions have invested in the region in the past. Several African countries hope to further expand their wealth management and asset management businesses in the future. Amid the trend of diversifying investment risks globally, the region can offer opportunities for higher returns.

The report mentioned that issuers of green financial products from Africa can use Hong Kong as a platform to align with international standards, thereby making their green projects more attractive to Asian investors