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Madagascar
Madagascar Geography, Culture, Politics, and Economy
Located off the Southern Coast of Africa, Madagascar is the fourth biggest island in the world. Due to its geographic isolation, the island is famous for its distinct plants and wildlife found nowhere else on the planet. Madagascar is famous for its lemurs which have thrived in that location due to a lack of competition from other species. This varied flora and fauna face endangerment from human development and interaction, with almost 90% of its forested area already lost to agricultural practices that are native to the inhabitants. Forestry, agriculture, and fishing are the mainstay of Madagascar’s economy, which accounts for over one-fourth of the nation’s GDP and for employing about 80% of the entire population. Madagascar has also experienced political instability including a coup, disputed elections, and violent unrest.
Madagascar has a population of 25 million with major ethnic groups including Malayo-Indonesian, Cotiers, Indian, French, Comoran, and Creole. Most Malagasy are multi-ethnic, reflecting the nation’s diversity. The primary languages of Madagascar include both French and Malagasy and the majority of its people are Christians, Muslims, or Indigenous religionists.
| 2021 | |
| March 29 | Martyrs’ Day |
| April 5 | Easter Monday |
| May 1 | Labor Day |
| May 13 | Ascension Day |
| May 13 | Eid al-Fitr |
| May 24 | Whit Monday |
| June 26 | Independence Day |
| August 15 | Assumption of Mary |
| November 1 | All Saints’ Day |
| December 11 | Republic Day |
| December 25 | Christmas Day |
- Limited Liability
- Corporation
- Partnership
- Corporate Tax: N/A
- Income Tax (Lowest Marginal Rate): N/A
- Income Tax (Highest Marginal Rate): N/A
- VAT/GST/Sales Tax: N/A
- Access Bank plc (Commercial Bank)
- Bank Negara Indonesia (Commercial Bank)
- Bank of Africa (Commercial Bank)
- BGFIBank Group (Commercial Bank)
- MCB Madagascar (Commercial Bank)
- Société Générale (Commercial Bank)
- State Bank of Mysore (Commercial Bank)
- OTIV de la province de Toamasina Zone Littoral (Commercial Bank)
- Bank of Africa (Commercial Bank)
- Caisse d’épargne de crédit mutuel agricole (CECAM) (Commercial Bank)
- Banque Malgache de L’ocean Indien (Commercial Bank)
- OTIV DIANA (Commercial Bank)
- BFV-Societe Generale (Commercial Bank)
- Bank Negara Indonesia (Commercial Bank)
- State Bank of Mysore (Commercial Bank)
- Mauritius Commercial Bank (Commercial Bank)
- Tahiry Ifamonjena Amin’ny Vola (TIAVO) (Commercial Bank)
- Action pour le Développement et le Financement des micro-entreprises (ADéFi) (Commercial Bank)
- Access Bank (Commercial Bank)
- Association d’épargne et de crédit autogérée (AECA) (Commercial Bank)
- BGFIBank Madagascar (Commercial Bank)
- OTIV Antananarivo (Commercial Bank)
- Banque Industrielle et Commerciale de Madagascar (Commercial Bank)
- OTIV Zone Alaotra Mangoro (Commercial Bank)
- OTIV SAVA (Commercial Bank)
- Madagascar Microfinance Bank (Commercial Bank)
Aadmi can support you with your expansion to Madagascar. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns. Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.
Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.
