Madagascar is an island country lying off the southeastern coast of Africa whose capital is Antananarivo. It is the fourth largest island in the world. Although located some 250 miles (400 km) from the African continent, Madagascar’s population is primarily related not to African peoples but rather to those of Indonesia, more than 3,000 miles (4,800 km) to the east. Madagascar is officially the Republic of Madagascar and was previously known as the Malagasy Location of Madagascar (dark green).
The current population of Madagascar is 29,824,157 as of Monday, July 3, 2023, based on Worldometer elaboration of the latest United Nations data.
Andry Rajoelina is the current president of the country and he was elected on 18th January 2019.
The economy of Madagascar is a market economy and is supported by Madagascar’s well-established agricultural industry and emerging tourism, textile, and mining industries. Malagasy agriculture produces tropical staple crops such as rice and cassava, as well as cash crops such as vanilla and coffee. Madagascar’s wealth of natural resources supports its sizable mining industry.
The World Bank is helping the Madagascar government to fight poverty and improve the living standards in the country amongst the people. Madagascar is one of the poorest countries in the world with over 70 percent of the population living below the poverty line.
Human capital in Madagascar ranks among the lowest globally, with the fourth highest rate of chronic malnutrition, and almost one child in two under five with stunting. About 97% of Malagasy children aged 10 can’t read and understand a short, age-appropriate text. And 4 out of 10 children drop out of primary school before the last grade.
To overcome the development problem in Madagascar, the goal for the 2020-2025 Country Development Cooperation Strategy (CDCS) is put in place to “Improve the well-being and resilience of the Malagasy people and drive Madagascar’s Journey to Self-Reliance.
Business opportunities in Madagascar
Madagascar offers a range of opportunities in tourism, agribusiness, mining, textiles, ICT, renewable energy, and infrastructure.
