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Hong Kong 2026-27 Budget: Driving High-quality, Inclusive Growth with Innovation and Finance

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Paul Chan

HONG KONG SAR – Media OutReach Newswire – 25 February 2026 – Paul Chan, Financial Secretary of the Hong Kong SAR Government, delivered his 2026-27 Budget today (February 25), with a range of initiatives to support and diversify Hong Kong’s economic growth, boost innovation and technology (I&T), speed up development of the Northern Metropolis and proactively align with China’s National 15th Five-Year Plan.

The theme of the 2026-27 Budget, the fourth Budget of the current-term Government, is “Driving High-quality, Inclusive Growth with Innovation and Finance”.

Hong Kong SAR’s Financial Secretary, Paul Chan, delivers the 2026-27 Budget today (February 25)

“Over the past year, as a result of the booming economy and capital market, our tax revenue has increased. Coupled with the reinforced fiscal consolidation programme gradually bearing fruit, our public finances have improved sooner than expected,” Mr Chan said.

The Financial Secretary revealed that Hong Kong’s Consolidated Account was expected to register a surplus of $2.9 billion in the current fiscal year, instead of a deficit of about $67 billion as originally estimated. The Operating Account for 2025-26, which was originally estimated to record a deficit of about $3 billion, will register a surplus of $51.3 billion, he said.

It was also confirmed that Hong Kong’s economy expanded by 3.5% in 2025, with growth forecast to be between 2.5% and 3.5% for 2026.

Mr Chan noted that this year marks the beginning of the National 15th Five-Year Plan, and he stressed the need for Hong Kong to actively align with the Plan.

“Our country’s sustained high-standard two-way opening-up, coupled with scientific and technological innovation, have presented us with new opportunities,” he said. “We must embrace the 15th Five-Year Plan with an innovative mindset, fostering new quality productive forces in accordance with local conditions.”

Mr Chan set out a series of measures to drive I&T development, including establishing the Committee on AI+ and Industry Development Strategy; taking forward the Sandy Ridge data facility cluster project; promoting AI training; and accelerating digital intelligence transformation of the Government.

“We are pressing ahead with the industrialisation of AI and deepening its integration across various industries, while encouraging wider AI application, thereby achieving the target of adoption and utilisation by all,” he said.

The International Clinical Trial Academy will, he said, also be established to help enable the Chinese Mainland’s biomedicine technology to go global, attract foreign investment, and help develop Hong Kong into an international health and medical innovation hub.

To facilitate the development of new industrialisation, the Budget has earmarked resources for establishing in Hong Kong the first national manufacturing innovation centre outside the Mainland, and the New Industrialisation Elite Enterprises Nurturing Scheme will be launched.

The Government will promote the full integration of technological innovation and industrial innovation through key infrastructure, including the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, and the San Tin Technopole in the Northern Metropolis.

To support financial services, Hong Kong will proactively align with national development strategies, advance the internationalisation of the Renminbi, and continuously reform the securities market.

The Government will legislate this year to enhance tax regimes for family offices and funds, as well as establish licensing regimes for digital asset dealing and custodian service providers.

“Despite the complex and ever-changing external environment, Hong Kong’s financial market has performed strongly and our financial system remains robust,” Mr Chan said. “We will continue to consolidate our existing strengths, tap into emerging fields, strengthen market systems and risk control and deepen financial co-operation in the GBA (Guangdong-Hong Kong-Macao Greater Bay Area).”

Noting that Hong Kong saw a year-on-year 12 per cent increase in visitor arrivals last year, which had created business and job opportunities for related sectors, the Budget will allocate $1.66 billion (US$212 million) to the Hong Kong Tourism Board (HKTB).

“The HKTB will scale up its flagship events and promotion, introducing new elements and extending event duration, and organise more signature festive events to highlight Hong Kong’s East-meets-West uniqueness,” Mr Chan said.

The Budget also earmarks an additional funding of $1 billion (US$128 million) for the Built Heritage Conservation Fund to enrich city culture. Elsewhere, the Government will launch the Northern Metropolis Urban-rural Integration Fund as a pilot scheme to support rural tourism projects.

To further promote sports development in Hong Kong, the Financial Secretary will inject $1.2 billion (US$154 million) to the sports portion of the Arts and Sports Development Fund.

Mr Chan said that the global environment has remained volatile over the past year, and Hong Kong has continued to undergo economic transformation.

“Technological innovation, in particular the development of AI, has brought us a mix of opportunities and challenges. Yet, Hong Kong has always thrived amid changes and progressed through innovation. We must make full use of our strengths and leverage the resolute support of our country to speed up and scale up our economic development sustainably for creating better development opportunities for the people and enhancing their quality of life,” Mr Chan said.

Business

Senegal’s Petrosen Heads to Caribbean Energy Week to Collaborate with Suriname

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Petrosen

Petrosen’s delegation is expected to engage with Suriname’s Staatsolie to share insights on offshore development, seismic interpretation and workforce capacity-building

A delegation from Senegal’s Petrosen E&P is confirmed to attend Caribbean Energy Week (CEW) 2026 in Paramaribo, presenting a key opportunity to deepen technical collaboration with Suriname’s Staatsolie and other regional stakeholders. The visit underscores a growing recognition that, despite being separated by the Atlantic, Senegal and Suriname face remarkably similar geological and upstream challenges – from seismic interpretation to field development strategy.

 

The Petrosen E&P delegation will include Ababacar Mbengue, Director of Promotion & Exploration; Frederic Arsène Boissy, Head of Promotion Department; and Mohamed Sonko, Databank Manager, reflecting a strong technical and strategic focus. Their participation signals Petrosen’s intention to engage not only at a policy level, but through detailed technical dialogue spanning exploration data management, promotion strategy and subsurface evaluation.

 

Senegal has emerged as a model for offshore development in West Africa. Discoveries such as SNE‑1 and FAN‑1, identified through detailed seismic interpretation, paved the way for developments including the Sangomar oil field, producing around 100,000 bpd, and the Yakaar‑Teranga gas project. Senegal has also been central to the Greater Tortue Ahmeyim (GTA) LNG project, a deepwater cross-border gas development co‑owned by Petrosen and partners, which launched gas exports last year. These projects required not only technical excellence but also careful planning and execution in moving from exploration success to sanctioned field development – lessons that Suriname, with its fast-expanding offshore program, is keen to absorb.

 

Suriname’s state energy company, Staatsolie, is stepping into the upstream spotlight within the Caribbean basin. Recent seismic activity – including multi-client 3D surveys offshore Saramacca and Coronie – demonstrates the country’s commitment to rigorous geological evaluation as part of its Open‑Door Offering program, designed to attract international investment. Deepwater agreements, such as the production sharing contract with Petronas in Block 66 and the commercial declaration of the Sloanea gas discovery in Block 52, further highlight the basin’s potential and the need for advanced subsurface expertise to manage reservoir uncertainty and appraisal risk.

 

Both nations share striking geological parallels. Senegal’s MSGBC Basin and Suriname’s Guyana-Suriname Basin are rich in hydrocarbons but technically demanding, requiring precision in seismic interpretation and basin modelling and analysis. These shared challenges make knowledge exchange particularly valuable, helping both countries accelerate upstream maturity while minimizing exploration and development risks.

 

CEW 2026, taking place from 30 March to 1 April, provides the ideal platform for this collaboration. The conference brings together policymakers, investors, NOCs and technical experts to showcase the region’s energy potential while fostering partnerships and capacity-building initiatives. The Senegalese delegation’s participation will highlight practical lessons from the country’s offshore successes, offering Surinamese stakeholders actionable insights for their own projects.

 

Join us in shaping the future of Caribbean energy. To participate in this landmark event, please contact sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

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Energy

Africa’s Green Economy Summit 2026 Charts a Course from Vision to Viability

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vukagroup

The Africa’s Green Economy Summit (AGES) 2026 opened its doors in Cape Town today, marking a pivotal moment in the continent’s economic trajectory. Convening a powerful coalition of policymakers, financiers and innovators, the summit signals a decisive shift from conceptual ambition to concrete, bankable action in the pursuit of a sustainable African future.

Under the banner of From Ambition to Action: Scaling Opportunities in Africa’s Green and Blue Solutions,” AGES 2026, proudly sponsored by Sanlam Investments, is not merely a forum for discussion but a catalyst for deal-making and partnership. The gathering is built on a singular premise, that Africa’s environmental challenges are, in fact, its greatest economic opportunities.

“Ambition lights the path, but it does not pave it. To transform our economies and uplift our communities, we must move beyond rhetoric to robust execution,” said Lerato Mbele, Summit Moderator. “This summit is a marketplace of ideas where we connect visionaries with investors, ensuring that Africa’s green transition is not just sustainable, but also scalable and profitable.”

By investing in our natural capital, we are investing in the most resilient infrastructure of all our communities

The strategic focus of this year’s agenda is underpinned by compelling data. The summit is shining a spotlight on the blue economy, a colossal yet often under-leveraged asset that already injects nearly $300 billion annually into the continent’s GDP and sustains 46 million livelihoods through fisheries, tourism and logistics. Simultaneously, the green economy, with agriculture and renewable energy at its core, is projected to unlock a staggering $10 trillion in global business value over the next decade, positioning Africa to generate an estimated 300 million new jobs for its burgeoning youth population.

These are not distant prospects, but immediate frontiers for investment and innovation.

Echoing this sentiment, the Honourable Naren Singh, Deputy Minister of Forestry, Fisheries and Environment, addressed delegates with a call for holistic progress. “Our journey towards a low-carbon future must be defined by a fundamental truth: sustainability is a three-legged stool, balancing the health of our planet, the prosperity of our people and the creation of shared value,” he stated. “By investing in our natural capital, we are investing in the most resilient infrastructure of all our communities.”

Over the next two days, the summit floor will be a hive of activity. Attendees will engage in high-level interactive sessions, witness live project pitches from Africa’s most promising green entrepreneurs, and participate in curated networking forums designed to fast-track collaboration and knowledge transfer.

AGES 2026 is more than an event, it is a declaration that Africa is ready to build a future where economic resilience and environmental stewardship are the same.

Distributed by APO Group on behalf of VUKA Group.

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Business

Liquid Intelligent Technologies Announces Debt Repayment and Agrees New Credit Facilities

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Liquid Intelligent Technologies

Strategic Financial Actions Support Growth Ambitions Across Africa

Liquid Intelligent Technologies, a business of Cassava Technologies (www.CassavaTechnologies.com), has today confirmed the full repayment of its ZAR term loan and USD revolving credit facility.

These transactions, alongside the recent sale of a minority stake in a data centre subsidiary in South Africa, are part of a significant strengthening of our capital structure

In tandem with this repayment, Liquid has agreed $410 million in new ZAR and USD credit facilities from a syndicate of commercial and development finance lenders. Cassava Technologies is further reinforcing Liquid’s financial position by injecting $195 million in fresh capital into the business.

Commenting on these developments, Hardy Pemhiwa, President and Group CEO stated: “These transactions, alongside the recent sale of a minority stake in a data centre subsidiary in South Africa, are part of a significant strengthening of our capital structure as we position the Group for accelerated growth. Through our One Cassava ecosystem, we are delivering innovative AI, cloud, data centre, payments, and low latency broadband connectivity solutions to enterprise customers across Africa.”

Africa Data Centre Holdings (“ADCH”) remains a wholly owned subsidiary of Cassava Technologies as the minority stake sale was in the ADCH South Africa business.

Looking ahead, Liquid intends to issue a new $300 million bond to replace its existing $620 million bond in advance of its maturity in September 2026. This move will reduce Liquid’s overall leverage and further strengthen the company’s balance sheet.

Distributed by APO Group on behalf of Cassava Technologies.

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