Madagascar burdened by virus, debt, payments crisis

Issue 417 - 12 Jun 2020
Investor interest in Madagascar picked up when companies were attracted by the island state’s potential for power sector developments, as former president Hery Rajaonarimampianina hosted an influential donor and investor conference in 2016.The going has since proven tough for many investors, as early movers have run into payment issues with malfunctioning state utility Jiro sy Rany Malagasy (Jirama) and the administration has proved unpredictable in renegotiating power purchase agreements (PPAs).

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