Madagascar President Calls on South African Businesses to Invest in Madagascar
Written by: MyPressportal Team Save to Instapaper
JOHANNESBURG, South Africa, June 15, 2017/APO/ --
The President of Madagascar, Mr Hery Rajaonarimampianina, has called on the South African business community to invest in Madagascar. President Rajaonarimampianina made the call during the Madagascar Investors Conference that was hosted by Department of Trade and Industry (the dti) in partnership with the Department of International Relations and Cooperation (DIRCO) and the Development Bank of Southern Africa (DBSA) in Pretoria today.
President Rajaonarimampianina said Madagascar, which had recently come out of political instability was in urgent need of investments. He said the country was pursuing mutually beneficial cooperation with prospective investors with the view to creating jobs that would benefit the citizens of both countries.
“Our ambition is one, and that is to improve the lives of our citizens. We call upon the South African business community to partner with us in this goal. We are here to give you compelling reasons to invest in Madagascar,” said President Rajaonarimampianina.
According to him, their vision is to have sustainable development in the country. The conference provided South African businesses with an opportunity to engage with both Malagasy government and businesses to acquire in-depth information on trade and investment prospects presented by the island state. He commended the Development Bank of South Africa which had funded the upgrade of the Antananarivo airport, citing the funding as a shining example of potential partnerships between the two countries.
He continued to highlight sectors that were critical to changing Madagascar’s growth trajectory. These include energy, infrastructure, tourism and mining. According to him, energy demand currently exceeds supply in that only 23% of the population have access to electricity. It is against this backdrop that the President invited South Africa to partner with Madagascar to address its infrastructure deficit. He cited projects such as the large scale mining projects and a booming textile sector, all of which require ports, roads and railways in which South Africa could invest.
The conference will conclude tomorrow with business to business meetings between the South African businesses and their Madagascar counterparts. Both countries are keen to facilitate investments to each other’s markets, hence the convening of the Investors’ Conference for sharing of investment opportunities in Madagascar with the South Africa private sector.
Distributed by APO on behalf of The Department of Trade and Industry, South Africa.
Latest from
- President Ramaphosa Arrives In Canada For G7 Outreach Session Focused On Energy Security And Global Collaboration
- TBWA\Hunt\Lascaris And Razor PR Shine In Cannes 2025 Engagement Lions Shortlist With Impactful Campaigns
- JOE Public Opens SA's Account At #cannes2025
- Life Healthcare Partners With PinkDrive To Ensure Timely Cancer Screening For Women In Public Health System
- H&M South Africa Invests R800 000 In Star For Life Partnership To Empower Girls And Fight Gender-Based Violence
- South Africa- Police Chairperson Welcomes Service Interventions, Especially Adoption OF Technology And Capacitation OF Detectives
- What Every South African Taxpayer Should Know This Tax Season
- JRS Solutions Successfully Exits Action ESD Fund
- Rainmaker Marketing Partners With Hirsch's Homestores
- Redefining Leadership For Impact - Why The Right Hires Now Shape Tomorrow's South Africa
- How Hostafica Helps Businesses Expand Into Africa With In-country Hosting And Servers
- Anelisa Zungu On Youth Voice And The Power Of Believing In Your Place In South Africa’s Future
- Musk's Spacex Targets Overberg Test Range, Unlocking Infrastructure Investment Opportunities
- From Humble Beginnings And Heartfelt Hospitality - Tshiberry B&B's Sweet Success Story
- Effie Lions Foundation Launches TO Futureproof The Marketing Industry
The Pulse Latest Articles
- This Father’s Day, Raise A Pura To The Dads Who Keep It Real (June 13, 2025)
- Winter Hydration Just Got A Glow Up (June 10, 2025)
- Work From Anywhere: Emails, Elephants & Espresso: The New Office Life (June 10, 2025)
- Xlink Crowned Technology Company Of The Year At The Africa Tech Week Awards 2025 (June 5, 2025)
- Celebrate International Day Of Play With The Weirdest (and Most Wonderful) Toys Of 2025 (June 4, 2025)