Madagascar | Aurato

Madagascar
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MVola, Orange Money and Airtel Money give Madagascar mobile-money routes alongside conventional banking. Wallet and agent networks connect ariary funds with transfers and merchant payments in a country of roughly 32.7 million residents and GDP per capita around US$600 in 2025.

Population

33M

GDP

$20B

GDP per Capita

$599.3

GDP Growth

3.0%

Deepdive

World Bank, World Development Indicators (WDI), 2025

Cash in Madagascar

Ariary cash still anchors Madagascar's commerce, although mobile money is widely accepted. Card acceptance is concentrated in higher-end businesses; cash machines are in larger cities, leaving access uneven beyond the centers.

ATMs (PER 100K)

3.1

BANKS (PER 100K)

2.7

DEBIT CARDS (PER ADULT)

0.0

CREDIT CARDS (PER ADULT)

0.0

Compare

IMF, Financial Access Survey (FAS), 2025