Providing accessible financial services for all

As a microfinance institution (MFI) offering credit, Paositra Finances SA is now ready to open its counters to the public.

Following a rotating meeting’s decisions, the Banking and Financial Supervision Commission (CSBF) informed Paositra Finances SA that the conditions suspending its approval had been lifted. The Minister of Digital Development, Posts, and Telecommunications, Tahina Razafindramalo, expressed her satisfaction upon hearing the news. On her LinkedIn account, she emphasized Paositra Finances’ mission : « To provide accessible financial services for all and promote Madagascar’s economic development. »

By the end of 2023, Madagascar had 16 MFIs serving 2.4 million clients, a 157 % increase since the end of 2017. These MFIs had issued a total credit amount of 149 million USD by the end of 2023. These figures highlight the continuous growth of MFIs in the formal economy and their crucial role in supporting income-generating activities across the country.

Paositra Finances will contribute to the expansion of MFI networks, promoting financial inclusion and representing a form of local banking better suited to most residents.