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Capital Antananarivo -
Urban population 41.9% -
Population 32.7 M -
Median age 19.2 Yr
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GDP 15.8 Bn USD -
Official language French, Malagasy -
Currency Malagasy Ariary
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E-commerce market revenue 484 M USD -
E-commerce growth 26.5%
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Online shopping habits Mobile money is growing rapidly in Madagascar - 37% of adults over 15 years use it in their daily life.
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People with mobile phone (% age 15+)95%
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People with internet access (% age 15+)64.4%
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People with bank account (% age 15+)14%
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People with credit card (% age 15+)2.1%
- Mobile Money users (10 M)
- Total population >15 years
Madagascar is a rapidly growing market and offers significant opportunities for international merchants who want to expand their e-commerce business into new markets. Here are few among others:
● Mobile money payments are increasingly getting more popular. 37% of the adult population already relies on such services like M-Vola and Airtel Money for financial transactions, making them essential for E-commerce.
● Madagascar’s E-commerce market is growing steadily, expected to reach 1.23 billion USD by 2029. This rapid anticipated growth emphasizes the potential and opportunities available to businesses.
● Mobile penetration stands at 95% (age 15+), and internet access is growing rapidly with already over 64% of adults using it, paving the way for a connected consumer market in Madagascar.
Madagascar is experiencing rapid digital infrastructure development and already possesses a significant proportion of digitally savvy individuals, with even more expected as digital adoption accelerates nationwide.
