Supporting SME development

Since this August, young businesses and project initiators in Madagascar have had the opportunity to benefit from the Fihariana program, which offers financing at preferential rates ranging from 9 % to 11 %.

Startups and project initiators can submit their applications starting August 1 through this presidential initiative, which is unique in the country. Official SMEs, on the other hand, can directly submit their requests to partner banks. Among the participating banks are BNI Madagascar, BOA Madagascar, and Société Générale Madagascar.

Fihariana provides strategic support to Malagasy entrepreneurs to create new businesses, expand existing activities, or explore new markets. The offers from Fihariana include business strategies developed directly by the program and training programs aimed at enhancing entrepreneurial skills. The President of the Republic of Madagascar launched the program to simplify access to financing and offering tailored support to entrepreneurs. Fihariana also works towards the empowerment of youth and women by providing equitable opportunities.

Since 2019, Fihariana has invested funds to stimulate the local economy and promote sustainable job creation in 115 districts. The program has been funded with over 185 billion MGA for 26,000 entrepreneurs across the island, improving the living conditions of thousands of Malagasy households.