Madagascar’s banking and insurance sectors are undergoing a decisive transformation, driven by modernisation, strengthened regulatory frameworks, and a renewed focus on long-term stability. As the country advances key reforms to enhance transparency, improve consumer protection, and align the financial system with global standards, it is laying the foundations for deeper liquidity, more resilient institutions, and greater investor confidence. Digitisation is accelerating this evolution, with new platforms improving payment efficiency, expanding financial inclusion, and enabling businesses to access services more easily.
Banks are central to this momentum. As Antoine Evrad Evouna Ossi, CEO of BGFIBank Madagascar, observes, “Madagascar’s banking industry is solid, profitable, and rapidly modernizing. Competition is healthy, liquidity is strong, and the sector is increasingly focused on digital transformation and supporting strategic industries.” This collective progress positions Madagascar as an emerging financial hub in the region and a compelling destination for investment.
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