On November 19 last year a group of potential investors gathered in the rarefied surroundings of Lancaster House in London, a stunning 19th century building, with gilded ceilings, stately rooms and grand staircases. They were attending the UK-Madagascar Trade and Investment Forum, a conference organised to generate interest in the African island country’s economic potential. The speakers included Hery Rajaonarimampianina, president of Madagascar, as well as ministers from key sectors such as energy, mining, tourism and trade. The delegation was keen to convey the message that Madagascar was open for business. Mr Rajaonarimampianina’s election in December 2013 had followed “a…
Emilie Filou
Mauritius: getting it right Once dismissed as an unlikely success story, this island nation has built a thriving, diverse economy on solid policies By Emilie Filou In 1961, things were not looking good for the small Indian Ocean island of Mauritius. A British colony at the time, its economy relied almost entirely on sugarcane. Unemployment was rife and its multiethnic population was growing fast. So dire were its prospects that Nobel Laureate for Economics, James Meade wrote: “It is going to be a great achievement if [the country] can find productive employment for its population without a serious reduction in…
Madagascar: disconnected The island has closer ties with Europe than Africa Shirts, dresses and trousers are piled on tables at the end of several rows of sewing machines in the Groupe Socota factory in Antsirabe, Madagascar’s third- largest city. Many bear the labels of well-known European brands: Decathlon, Zara and Camaïeu. Socota, Madagascar’s largest textile manufacturer, employs more than 5,000 people in this factory in the highlands, about 180km south of the capital, Antananarivo. The company produces more than 5m pieces of clothing a year, says Véronique Auger, Socota’s managing director. Half of these garments end up in European stores.…
