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Banking / Investment in Madagascar

  • Africa's last international banks make their stand

    BOTSWANA, 2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.
  • Why governments need to support the financial sector to meet the unserved needs of smallholder farmers

    BOTSWANA, 2017/09/09 This year, under the leadership of H.E. President Alassane Ouattara and the theme of “Accelerating Africa’s Path to Prosperity: Growing Inclusive Economies and Jobs through Agriculture”, the African Green Revolution Forum (AGRF) 2017 is shaping up as a premier platform to showcase ongoing evolution in Africa’s agricultural transformation schedule and to scale up the political, policy, and financial commitments needed to achieve the Malabo Declaration and the world development schedule around the Sustainable Development Goals (SDGs). Following the launch of the landmark annual Africa Agriculture Status Statement (ASSR) at the AGRF taking place in Cote d’Ivoire from 4-8 September 2017, the major conclusion centres around the power of entrepreneurs and the free market in driving Africa’s economic increase from food production. This is owing to the fact that a lot of businesses are waking up to opportunities of a rapidly growing food market in Africa that may be worth additional than $1 trillion each year by 2030 to substitute imports with high price food made in Africa.
  • AfDB Approves Rural Youth Enterprise Project for Food Security in Madagascar

    MADAGASCAR, 2015/09/29 The African Development Bank Group (AfDB) has approved two loans amounting to US$ 24.55 million for Madagascar to help reduce the country's food insecurity and fragility. The Mid-West Rural Youth Enterprises Project (PROJERMO), located in the Bongolava and Amoron'i Mania regions involves the establishment of enterprises in areas of activity and occupations linked to the production, processing, and marketing of agricultural products, inclunding to the development and maintenance of irrigation infrastructure.
  • East Africa: Regional Microfinance Institutions Advised to Apply for Observer Status

    DJIBOUTI CITY, 2015/01/04 Regional microfinance institutions are poised to benefit from regional integration, if they apply for an observer status at the East African community secretariat, Innocent Safari, the permanent secretary, Ministry of East Africa community affairs has said. The advice follows plans by sector players to move towards integrating legal and regulatory frameworks during the recently concluded microfinance CEO's summit in Kigali. During the summit, top micro finance managers resolved to explore ways in which laws, regulations and supervisory frameworks governing the sector can be harmonised to enhance cross-border business.
  • Mauritian-Malagasy consortium acquires BNI Madagascar Bank

    MADAGASCAR, 2014/06/11 A consortium, in which the Mauritian group 'CIEL Ltd.' is a majority shareholder with 60%, in partnership with Malagasy group 'Initial Immo', has acquired the BNI Madagascar Bank, from official sources. In a communiqué published Monday, CIEL Ltd's Executive Director, Jean-Pierre Dalais, said the investment follows the development strategy plan of the group. 'We want to strengthen our presence in the financial sector in Madagascar by investing in an by presently established bank,' he said.
  • World Bank to Help Improve Maternal and Child Health, 2012-06-30

    MADAGASCAR, 2012/06/30 The World Bank today approved new financial help to improve maternal and child health services and prevent the further spread of HIV in Madagascar. The Bank will finance a cost-effective program of health, nutrition, and sexually transmitted STI/HIV/AIDS services. These will address urgent needs of vulnerable groups including pregnant women and children under five, as well as those most at risk of STI/HIV/AIDS, such as youth, military, and sex workers.