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Microfinance in Madagascar

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In addition to this loan guarantee programme, AKAM has established the Première Agence de MicroFinance in Madagascar (PAMF-Madagascar), a private limited company.The Aga khan Agency for Microfinance (AKAM) oversees Fanasoavana, a programme established in the 1950s to provide small- and medium-sized loans to the poor in many parts of the country. As significant changes in the economic and political environments have taken place, this direct-lending approach has been transformed into a credit guarantee scheme extended through commercial banks.

In addition to a loan guarantee programme, AKAM has established the Première Agence de MicroFinance in Madagascar (PAMF-Madagascar), a private limited company. This MFI is operating in both the rural areas and the small cities of the Sofia region of the Island. As the programme scales up, it will also extend credit in Antananarivo, where the poor population significantly lack access to financial services. In the rural areas, PAMF works primarily in support of the activities of the Aga Khan Foundation’s rural support programme.

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