Hagasata Rakotoson, founder of Solidis S.A., will represent Madagascar at the Africa's Business Heroes 2026 semi-finals, scheduled for August 21-22 in Nairobi. She is among the 20 entrepreneurs selected from over 24,000 applications across all 54 African countries. The competition distributes $1.5 million in prizes to finalists.
A Continental-Level Selection
Africa's Business Heroes is the flagship programme of the Jack Ma Foundation in Africa. In 2026, the competition received a record number of applications: over 24,000 from across the continent. The 20 selected semi-finalists represent 12 nations and collectively generated approximately $85 million in revenue in 2025. Eight women are among them — 40% of the cohort — a record for the programme.
Solidis S.A.: The Fintech Formalising Madagascar's Economy
Hagasata Rakotoson founded Solidis S.A. to address a structural challenge in Madagascar: the vast majority of economic transactions occur outside the formal banking system. Solidis develops digital payment and credit solutions for SMEs and unbanked households in Madagascar, using mobile telephony as the main lever to bridge the informal economy and formal financial institutions.
The Nairobi Semi-Final: A Regional Showcase
The Nairobi semi-finals (August 21-22, 2026) will pit the 20 entrepreneurs against each other to secure a spot in the grand final. Winners will share a $1.5 million prize pool, along with mentorship, networking, and international exposure. The presence of a Malagasy entrepreneur in this elite circle signals the rising profile of Indian Ocean startups on the continental stage.
Why It Matters
Madagascar has one of the most informal economies in Sub-Saharan Africa, with a banking penetration rate below 10%. Local fintechs that achieve continental recognition — and the capital that comes with it — are powerful agents of economic formalisation. The visibility Solidis gains from this competition could accelerate its fundraising and regional deployment.
Sources: Disrupt Africa, How We Made It in Africa, Africa Newsroom — 14 August 2026.