Business Investment Financing Statistics in Madagascar (2026)
According to World Bank World Development Indicators data, 4.1% of firms in Madagascar used banks to finance investment in 2022. Down from 13% in 2013 to 4.1% in 2022 (−8.9 percentage points). Madagascar ranks #44 of 44 economies in Sub-Saharan Africa on this measure, and #139 of 144 globally.
Key Statistics
- Latest value (2022)
- 4.1% (2022)
- Business Investment Financing in Madagascar as of 2022, the most recent observation in World Bank World Development Indicators data.
- Change since 2013
- −8.9 pp (2022)
- Down from 13% in 2013 to 4.1% in 2022 (−8.9 percentage points).
- Earliest value in this dataset (2009)
- 12.2% (2009)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Down from 12.2% in 2009 to 4.1% in 2022.
- Peak value (2013)
- 13% (2013)
- Highest value in the available series; the 2022 value is 4.1%.
- Rank in Sub-Saharan Africa
- #44 of 44 (2022)
- Madagascar ranks 44 of 44 countries in Sub-Saharan Africa with data, based on each country's latest value.
- Global rank
- #139 of 144 (2022)
- Madagascar ranks 139 of 144 countries with data globally.
- Sub-Saharan Africa average
- 22.2% (2022)
- Madagascar (4.1%) is below the average of 22.2% across the 44 countries in Sub-Saharan Africa with data.
- Firms with a bank loan/line of credit (% of firms) (2022)
- 8% (2022)
- Related indicator from World Bank World Development Indicators.
- Internet use in Madagascar (2024)
- 18.7% (2024)
- 18.7% of the population in Madagascar used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 32 million (2024)
- Madagascar had a population of 32 million in 2024 (World Bank); shown for scale only.
Trend, 2009–2022
| Year | % of firms | Change |
|---|---|---|
| 2022 | 4.1% | −8.9 pp |
| 2013 | 13% | +0.9 pp |
| 2009 | 12.2% | — |
Frequently asked questions
What share of firms in Madagascar used banks to finance investment?
4.1% of firms in Madagascar used banks to finance investment in 2022, according to World Bank World Development Indicators data.
Where does the business investment financing data for Madagascar come from?
The data comes from the World Bank World Development Indicators (indicator IC.FRM.BNKS.ZS). The latest observation for Madagascar is from 2022; the snapshot was retrieved on 2026-06-10.
How has business investment financing in Madagascar changed over time?
World Bank World Development Indicators data show a decline from 12.2% in 2009 to 4.1% in 2022.
Source & methodology
Source: World Bank, World Development Indicators, indicator
IC.FRM.BNKS.ZS, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .