Madagascar seeks Russian investment in energy and agriculture
President Randrianirina wants Russian firms to process raw materials locally, creating jobs and industrial activity.
Madagascar's President, Colonel Michaël Randrianirina, attended the 3rd Russia-Africa Summit in Moscow, outlining economic priorities and seeking stronger ties with Russia. He stated that despite destabilization attempts, Madagascar is committed to developing this partnership. The President highlighted the Madagascar-Russia Chamber of Commerce as a tool to connect investors.
Key sectors for new partnerships include energy, agriculture, health, water supply, digital technology, and scientific research. President Randrianirina aims to attract Russian companies willing to process raw materials directly in Madagascar, boosting local employment, tax revenue, and industrial development. Russia presented its A7 cross-border payment system, which has expanded in Africa.
The effectiveness of this summit will be measured by tangible benefits for the population, including mobilized funding, established businesses, created jobs, and completed infrastructure projects. The A7 payment platform, launched in late 2024, is expanding into Africa with existing offices in Nigeria and Zimbabwe.
Why it mattersMadagascar's economic priorities are energy, agriculture, health, water, digital, and research, with a focus on local processing of raw materials to create jobs.