Formal & Mobile Money Savings Statistics in Madagascar (2026)
According to World Bank Global Findex data, 11.1% of adults in Madagascar saved at a formal financial institution or using a mobile money account in 2024. Down from 11.5% in 2022 to 11.1% in 2024 (−0.5 percentage points). Madagascar ranks #34 of 36 economies in Sub-Saharan Africa on this measure, and #124 of 142 globally.
Key Statistics
- Latest value (2024)
- 11.1% (2024)
- Formal & Mobile Money Savings in Madagascar as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2022
- −0.5 pp (2024)
- Down from 11.5% in 2022 to 11.1% in 2024 (−0.5 percentage points).
- Earliest value in this dataset (2011)
- 1.4% (2011)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 1.4% in 2011 to 11.1% in 2024.
- Peak value (2022)
- 11.5% (2022)
- Highest value in the available series; the 2024 value is 11.1%.
- Rank in Sub-Saharan Africa
- #34 of 36 (2024)
- Madagascar ranks 34 of 36 countries in Sub-Saharan Africa with data, based on each country's latest value.
- Global rank
- #124 of 142 (2024)
- Madagascar ranks 124 of 142 countries with data globally.
- Sub-Saharan Africa average
- 30.8% (2024)
- Madagascar (11.1%) is below the average of 30.8% across the 36 countries in Sub-Saharan Africa with data.
- Saved at a bank or similar financial institution (% age 15+) (2024)
- 4.8% (2024)
- Related indicator from World Bank Global Findex.
- 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, 2011–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 11.1% | −0.5 pp |
| 2022 | 11.5% | +7.6 pp |
| 2017 | 4% | +0.7 pp |
| 2014 | 3.3% | +1.9 pp |
| 2011 | 1.4% | — |
Frequently asked questions
What share of adults in Madagascar saved at a formal financial institution or using a mobile money account?
11.1% of adults in Madagascar saved at a formal financial institution or using a mobile money account in 2024, according to World Bank Global Findex data.
When did formal & mobile money savings in Madagascar peak?
The highest value in the available series was 11.5% in 2022; the latest (2024) value is 11.1%.
How recent is the formal & mobile money savings data for Madagascar?
The most recent observation is from 2024. World Bank Global Findex data is reported with a lag, so 2024 is the latest available year for Madagascar.
Where does the formal & mobile money savings data for Madagascar come from?
The data comes from the World Bank Global Findex (indicator fin17a.17a1.d). The latest observation for Madagascar is from 2024; the snapshot was retrieved on 2026-06-10.
Source & methodology
Source: World Bank Global Findex, indicator
fin17a.17a1.d, 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 .