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Airtel and BGFIbank improve access to mobile banking
Mobile phone operator Bharti Airtel Africa (Airtel) and BGFIbank, the International Gabonese and French bank, have entered a partnership to improve access to finance for their users.According to the...
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Madagascar: Launch of a new guarantee fund for SMEs
A partnership agreement was signed last Friday (December 13th) between SOLIDIS Madagascar, the French Development Agency (AFD) and the microfinance institution Microcred.The objective is to establish a...
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Madagascar: Mobile banking use on the rise
Orange Madagascar has announced that m-banking users are on the rise, with a 50 percent annual increase in Orange Money subscribers."During the first year, we had between 250,000 and 300,000 customers....
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Madagascar: Airtel Money now available in Microcred branches
A few months after entering the Post Office branches, mobile banking service Airtel Money keeps on expanding and is now available at Microcred branches.An agreement was signed by both parties on...
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A new e-commerce platform now operational in Madagascar
Malagasy banks BFV société générale et BMOI have partnered with Visa and DHL to develop the first e-commerce platform in Madagascar.The new service, called Packyellow, allows users to make purchases on...
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Malagasy financial authorities to promote access to microfinance via mobile...
Microfinance institutions (MFIs) - which are currently facing legal, technical and financial issues - will thus be able to promote their remote banking services via mobile phone. "The financial...
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Madagascar: Airtel Money now available at post offices
Airtel Money's mobile banking service is available from February 1st through 170 post offices in Madagascar.It is now possible to make payments, deposit and withdraw money through employees of Paositra...
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Madagascar: The BNI announces a 16 percent increase in bank loans
The BNI Madagascar has announced a 16 percent increase in the number of people using bank loans between 2011 and 2012.In 2011, the bank had already said that outstanding loans to individuals and small...
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Madagascar: BOA launches innovative new mortgage
Bank BOA Madagascar has launched a new housing loan called named Alkany that can be repaid over a maximum period of 17 years.According to Midi Madagasikara newspaper, this has never been done before....
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Mobile international money transfer comes to Madagascar
In Madagascar, mobile operator Telma now gives users of its mobile payment service Mvola the ability to receive money from abroad.It has teamed up with Western Union, a leader in international money...
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Madagascar: 13 percent increase in the volume of outstanding loans
The volume of outstanding loans of the Malagasy banking sector in 2011 has witnessed a growth comprised between four and five percent, announced Philippe Lame, CEO of BFV Société Générale.This is a 13...
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Madagascar: Banks tighten mortgage standards
In the difficult economic climate, banking institutions have introduced several measures to limit their mortgage related risks.During a housing conference in Madagascar, one bank based in Antanarivo...
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Madagascar: Creation of a bank and a guarantee fund specialised in housing
Madagascar's Minister for Country Planning and Decentralisation Hajo Andrianainarivelo has announced the creation of a guarantee fund and a bank specialising in housing.The aim of these institutions...
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Microfinance penetration rate on the rise in Madagascar
The penetration rate of microfinance in Madagascar went from 16 percent in December 2009 to 17.5 percent in December 2010, L'Express de Madagascar reports.Quoting new figures from the National...
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Madagascar: Credit increase at BNI bank
"Between 2009 and 2010, we have witnessed an increase of 40 per cent in the volume of credits granted to consumers and professionals," said an official at the Department of Communication during a press...
View ArticleMicrofinance progresses in Madagascar
They show that the penetration rate of the sector on the island went from 15.16 per cent in September 2009 to 17.4 per cent in September 2010, Xinhua news agency reports.Furthermore, the total exposure...
View ArticleAccess to credit 'remains difficult' for Madagascar businesses
Declined credit applications are mainly due to problems with businesses' legal and financial documents, Nelly Randriatsialonina of BFV-SG bank was quoted as saying.But according to an anonymous...
View ArticleMadagascar's fishermen get access to microcredit
Launched on December 8th 2010 as part of the PACP programme helping fishermen from the Toliara area of the country, the initiative has been led in collaboration with the African Development Bank and...
View ArticleBharti Airtel launches new Madagascar mobile banking service
Any user subscribing to Airtel Money will be able to use an account that can be accessed via their handset at any time, enabling them to pay for goods or add funds. Launched in partnership with BOA...
View ArticleMicrofinance partnerships 'can boost small business activity'
Speaking at the African Union Summit in Ethiopia on Sunday January 31st, Robert B Zoellick stated that partnerships with microfinance organisations have been an important part of giving small...
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