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

23 Pages Posted: 19 May 2018

See all articles by Andriamirado Rakoto

Andriamirado Rakoto

Shanghai University of Finance and Economics - School of Law; Wuhan University, School of Law, Research Institute of Environmental Law, Students

Date Written: May 4, 2018

Abstract

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.

Keywords: Madagascar, Financial Inclusion, Mobile Money, MFI, Grameen Bank

JEL Classification: G21; K30

Suggested Citation

Rakoto, Andriamirado, The Promotion of Financial Inclusion in Madagascar Through Mobile Money and Microfinance (May 4, 2018). Available at SSRN: https://ssrn.com/abstract=3173606 or http://dx.doi.org/10.2139/ssrn.3173606

Andriamirado Rakoto (Contact Author)

Shanghai University of Finance and Economics - School of Law ( email )

777 Guoding Road
Shanghai, 200433
China

Wuhan University, School of Law, Research Institute of Environmental Law, Students ( email )

China

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