Formal Borrowing Statistics in Madagascar (2026)
According to World Bank Global Findex data, 2.8% of adults in Madagascar borrowed from a formal financial institution in 2024. Down from 5.8% in 2022 to 2.8% in 2024 (−3.1 percentage points). Madagascar ranks #33 of 36 economies in Sub-Saharan Africa on this measure, and #136 of 142 globally.
Key Statistics
- Latest value (2024)
- 2.8% (2024)
- Formal Borrowing in Madagascar as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2022
- −3.1 pp (2024)
- Down from 5.8% in 2022 to 2.8% in 2024 (−3.1 percentage points).
- Earliest value in this dataset (2014)
- 2% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 2% in 2014 to 2.8% in 2024.
- Peak value (2022)
- 5.8% (2022)
- Highest value in the available series; the 2024 value is 2.8%.
- Rank in Sub-Saharan Africa
- #33 of 36 (2024)
- Madagascar ranks 33 of 36 countries in Sub-Saharan Africa with data, based on each country's latest value.
- Global rank
- #136 of 142 (2024)
- Madagascar ranks 136 of 142 countries with data globally.
- Sub-Saharan Africa average
- 7.8% (2024)
- Madagascar (2.8%) is below the average of 7.8% across the 36 countries in Sub-Saharan Africa with data.
- 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, 2014–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 2.8% | −3.1 pp |
| 2022 | 5.8% | +2.0 pp |
| 2017 | 3.8% | +1.8 pp |
| 2014 | 2% | — |
Frequently asked questions
What share of adults in Madagascar borrowed from a formal financial institution?
2.8% of adults in Madagascar borrowed from a formal financial institution in 2024, according to World Bank Global Findex data.
When did formal borrowing in Madagascar peak?
The highest value in the available series was 5.8% in 2022; the latest (2024) value is 2.8%.
How recent is the formal borrowing 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 borrowing data for Madagascar come from?
The data comes from the World Bank Global Findex (indicator fin22a). The latest observation for Madagascar is from 2024; the snapshot was retrieved on 2026-06-10.
Source & methodology
Source: World Bank Global Findex, indicator
fin22a, 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 .