What you need to know before you go to Madagascar for business? (professional tips for trading)

Madagascar is an island located in the Indian Ocean, 400 km from the east coast of Africa. It is 10,000 km from France. The country has just emerged from five years of political and economic crisis, but the economic environment is now conducive to different business. The local currency is the Ariary. It does not weigh heavily against the euro. So the investors who carry this European currency find themselves very favored, because with a modest capital, they can finance important business hence our file on business trips to Madagascar.

In addition, local legislation strongly encourages actions in this direction, because the country lacks a lot of foreign currency. Local industries are insufficient to process raw materials, and export of raw materials is also booming.

Madagascar and its diverse population

The local workforce is quite cheap because the minimum wage is about 40 €. This explains the presence of many companies relocated particularly in the field of textile, communication and computer input. The local market is flooded with Chinese products whose quality often leaves something to be desired. However, they have the merit of being within the reach of the purse of the majority of Malagasy.

Nevertheless, there is a segment of the relatively wealthy population who are fond of European products. The Malagasy adore the new technologies especially in the field of telephony and multimedia. For these, they do not hesitate to spend huge sums to acquire these devices!

When to go to Madagascar?

The best time to come is from April when the rainy season ends and it is easier to move and therefore to more easily contact various economic actors. Madagascar has good telephony coverage and internet services are quite satisfactory. At the level of reception infrastructure, the country is well provided with all the desired levels of comfort.

You can entrust Sanbao Events (Paris and Bordeaux) with the organization of your business trip to Madagascar