Madagascar MAP Roadmap 2018 – 2022 Report

This roadmap document is produced as part of a series of documents in the Making Access Possible (MAP) Madagascar initiative.

MAP Madagascar has been rolled out under the guidance of the MAP steering committee chaired by the Treasury department of the Ministry of Finance and Budget. The steering committee includes representatives from government, regulators, private sector, and donors.

The key research findings from the MAP diagnostic are captured in the country diagnostic report, Madagascar Making Access Possible: Financial Inclusion Diagnostic Report, 2017 produced by the Centre for Financial Regulation and Inclusion (Cenfri) in collaboration with The Finances, Technologies, Human Resources and Management (FTHM), a consulting firm based in Madagascar. The diagnostic covers the demand-side, supply-side and regulatory analyses. The supply-side analysis covers payments, savings, credit and insurance, and therefore provides an understanding of financial inclusion in a broad context, and draws from a range of stakeholder consultations conducted in early 2017 as well as a mystery shopping exercise at branches/outlets of various financial institutions and product and provider data provided by 28 institutions. The demand-side component includes an analysis of access, usage, perceptions and attitudes of financial services by target groups. Qualitative insights were gathered through a series of 28 in-depth consumer interviews conducted in Antananarivo and rural areas within a three-hour drive from the capital in 2016. These insights complement the quantitative consumer insights generated through the FinScope Madagascar consumer survey published by FinMark Trust in 2016, a nationally representative demand-side consumer survey based on a nationally representative sample of 5,040 adults (individuals aged 18 and older).

Documents produced as part of the MAP Madagascar initiative include: (1) Madagascar Making Access Possible: Financial Inclusion Diagnostic Report 2017. (2) FinScope Consumer Survey Highlights Madagascar 2016. (3) Presentation: Madagascar FinScope Survey 2016. A summary presentation of the Madagascar MAP Diagnostic Report findings, presented to a Stakeholder Workshop on 3 May 2017 and the FinScope dataset are available on request.

The roadmap summarises the main findings and recommendations from the comprehensive diagnostic report and presents a way forward on the recommended priority areas for financial inclusion in Madagascar.

The MAP methodology and process has been developed jointly by UNCDF, FinMark Trust and Cenfri to improve financial inclusion to improve individual welfare and support inclusive growth.