Madagascar seeks Russian investment in several sectors
By the AFREEQUE newsroom, based on Madagascar Tribune
At the Russia-Africa summit in Moscow, Malagasy President Michaël Randrianirina outlined sectors in which Madagascar wants to develop partnerships with Russia: energy, agriculture, health, water, digital technology and research. He wants to attract Russian companies to process raw materials locally, while Moscow presented the A7 cross-border payments platform to the Malagasy delegation, Madagascar Tribune reports.
Madagascar’s President of the Refoundation, Colonel Michaël Randrianirina, has called for greater Russian investment in energy, agriculture, health, water, digital technology and scientific research, according to Madagascar Tribune. He proposed, in particular, strengthening the role of the Madagascar-Russia Chamber of Commerce to bring investors from the two countries closer together.
Michaël Randrianirina also wants Russian companies to process raw materials in Madagascar rather than export them without adding value. He believes this approach could support employment, tax revenue and the creation of local industrial activity.
The Malagasy delegation also learned about the A7 system, a Russian cross-border payments platform launched in Moscow in late 2024. According to Madagascar Tribune, A7 is seeking to expand in Africa and already has offices in Nigeria and Zimbabwe.
The initiative is part of the rapprochement with Moscow advocated by Michaël Randrianirina at the Russia-Africa summit. The Malagasy president attended the meeting in Moscow after arriving at the summit on 28 October.
