General Information

Madagascar is a fragile country marked by political instability and heavily dependent on support from multilateral donors.

The government has carried out several reforms to attract foreign investors and improve the business climate. A National Investment Promotion Agency (EDBM) is established as a one-stop shop to facilitate implementation and investment. 

Although not a requirement, the use of an agent/distributor or partner with experience in the distribution of imported products can be useful in approaching the market and establishing the right contacts.

Means of Payment & Banking Specificities

Madagascar has a floating exchange rate regime: the exchange rate of the ARIARY currency is freely determined by the IFEM (Interbank Foreign Exchange Market).

The recommended invoicing currency remains the Euro.

To secure payments, we strongly recommend the use of a confirmed documentary credit with payment on demand or even within 30 days maximum.

Payments for unsecured transactions are often delayed.