The Promotion of Financial Inclusion in Madagascar Through Mobile Money and Microfinance

Madagascar is a country in Sub-Saharan Africa. With an area of 592,800 square kilometres, it is the world’s 46th largest country and the fourth largest island. The country has many natural resources which are unique. Despite on the fact that Madagascar has abundant natural resources which are a fundamental point for its development, it is among of the poorest countries in Africa and the world: more than 60% of the population live on less than $2 a day. Many factors could be advanced to explain the origins of the poverty of this country, but one of them is the low access of the population to Financial Services. As Dr Muhammad Yunus said, “the system causes poverty; if we can change the system, we can change people’s life.” In Madagascar, the Mobile Money and the Microcredit plays a grand role in the promotion of Financial Inclusion. The success of Mobile Money in Madagascar will depend on the partnerships between the Mobile Network Operators and the Financial Institutions like Bank and Micro Finance Institutions.