Country Financial Sector Profilesback

Financial Sector Overview

Madagascar officially the Republic of Madagascar , and previously known as the Malagasy Republic, is an island country in the Indian Ocean, off the coast of East Africa. The nation comprises the island of Madagascar (the fourth-largest island in the world), and numerous smaller peripheral islands.

Following the prehistoric breakup of the supercontinent Gondwana, Madagascar split from the Indian peninsula around 88 million years ago, allowing native plants and animals to evolve in relative isolation. Consequently, Madagascar is a biodiversity hotspot; over 90% of its wildlife is found nowhere else on Earth. The island's diverse ecosystems and unique wildlife are threatened by the encroachment of the rapidly growing human population and other environmental threats.


BANKS

CONTACTS

WEBSITE

 

ADDRESS

TELEPHONE

EMAIL

 

BFV SOCIETE GENERALE (BFV-SG)

14, rue Jeneraly Rabehevitra,
Antaninarenina,
BP 196
101 Antananarivo

(+261) 20 22 264 24

 relation.client@socgen.com

 
www.bfvsg.mg/  

 

BNI-MADAGASCAR

74, rue du 26 juin 1960,
BP 174
101 Antananarivo

(+261) 20 22 239 51

 info@bni.mg

 
www.bni.mg  

 
 

BANK OF AFRICA MADAGASCAR

2, place de l'Indépendance,
Antaninarenina ,
BP 183
101 Antananarivo

(+261) 20 22 391 00

bmoi@bmoi.mg

 
www.boa.mg  

 

BANQUE MALGACHE DE L'OCEAN INDIEN

Place de l'Indépendance,
BP 25 bis
101 Antananarivo

(+261) 20 22 346 09

bmoi@bmoi.mg

 
www.bmoinet.net  

 

THE MAURITIUS COMMERCIAL BANK

77, rue Solombavambahoaka Frantsay,
Antsahavola,
BP 197
101 Antananarivo

(+261) 20 22 272 62

 mcb.int@mcbmadagascar.com

 www.mcbmadagascar.com/fr/  

 

SBM-MADAGASCAR

1, rue Andrianary Ratianarivo,
101 Antananarivo

(+261) 20 22 666 07

bsbmmtna@sbmgroup.mu

 
www.sbmgroup.mu/gp_madagascar.php?lang=fr  

 

ACCESS BANQUE MADAGASCAR

Immeuble BIR HACKEIM,
Lot IBG 21 Ter Antsahavola,
101 Antananarivo

(+261) 20 24 527 62

info@accesbanque.mg

 www.accesbanque.mg  

 

MICROCRED BANQUE MADAGASCAR

Bâtiment ARIANE 5 A,
Zone Galaxy Andraharo,
BP 7119,
101 Antananarivo

(+261) 20 23 616 26

 jarmand@microcred.com / info‑madagascar@microcred.com

 
www.microcredgroup.com/fr/reseau/afrique/madagascar/e/61-89-1
www.microcred.mg  

 

BGFI BANK MADAGASCAR

Explorer Business Park,
Ankorondrano,
Antananarivo,

(+261) 20 15 583 04

b.françois@bgfi.com

 www.madagascar.bgfi.com  

 

BM MADAGASCAR

22, avenue de l’Indépendance, Analakely,
101 Antananarivo .

(+261) 20 23 00 00

 rmouhtajy@bmm.mg

   

SOCIETE D'INVESTISSEMENT POUR LA PROMOTION DES ENTREPRISES (SIPEM BANQUE)

Lot A 216 H, Andavamamba, 101

(+261) 20 22 300 98

assdg@sipem.mg

 
www.sipem.mg/  

 

TOTAL

11

 
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Source

At a Glance

At a Glance Source
Population in thousands (2019): 26,969.30
GDP per capita (current US$) 2019 - World Average 10,721.61: 522.22
Account (%) age 15+) - (2014 vs 2017): 9% | 18%
Agriculture Orientation Index - Credit (Agriculture, Forestry and Fisheries share of GDP) (2015 vs 2016): n/a
Financial Inclusion Strategies: • National Financial Inclusion Strategy of Madagascar (NFIS 2018-2020 (released Nov 2018)) • SADC Financial Inclusion Strategy 2016-2021
Domestic credit provided by financial sector (% of GDP) 2017: 18.98
Made or received digital payments in the past year (% age 15+) (2014 vs 2017): 5% | 15%
Remittances % of GDP for 2017: 0.03
Mortgage Interest Rate / Mortgage Term (years): 12% | 18

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Latest News & Events

Jul 28, 2020
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Latest Publications

Dec 10, 2019 | International Monetary Fund
Jul 31, 2018 | FinMark Trust | FinMark Trust
Jun 30, 2018 | N. Sharma, F. Razafimanantsoa et al. | The World Bank