On September 27, the Hub signed a memorandum of understanding with Madagascar National Investment Promotion Agency to attract trade and investment into Madagascar and the eastern Africa region.
"Madagascar National Investment Promotion Agency very pleased to partner with the Hub and to work hand in hand to realize technical assistance programs on access to capital. Malagasy companies especially SMEs are in need of this kind of support," said Johari Rajosefa, Director Investor Services Madagascar National Investment Promotion Agency.
On September 28, the Hub held a workshop with Malagasy small- and medium-sized enterprises (SMEs). The workshop included one-one networking sessions between the entrepreneurs and the Hub investment team. The Hub’s transaction advisors and investment team now have a better understanding of the businesses, including the gaps and opportunities. The Hub will now help the high-potential companies prepare documentation for investors.
The Hub has a mandate to close 100 million dollars in new investments by 2019. Its investment facilitation support covers Madagascar but it has not yet closed any transactions in the country. By partnering with the Madagascar National Investment Promotion Agency and by cultivating its recent partnership with AMCHAM Madagascar the Hub will conduct targeted outreach to business owners in Madagascar to develop a rich pipeline of investment opportunities. The Hub will then connect these business owners to appropriate investors.
The Hub has signed similar MoUs with investment promotion agencies in Kenya, Uganda and Ethiopia.