The Malagasy government is taking an unprecedented approach: developing a national public investment policy by involving the private sector, universities and civil society. A convention was signed on 9 September 2026 with the University of Antananarivo, Imatep and Enam. An analysis of an initiative aimed at making every ariary invested more effective.
A National Policy Under Construction
The Malagasy government took an important step on 9 September 2026 by officially launching the consultation phase for the development of a national public investment policy. The goal: to equip Madagascar with a structured framework to direct public spending towards projects with the most concrete economic and social impact, and to ensure their sustainability.
A partnership convention was signed with three key academic and professional institutions: the University of Antananarivo, Imatep and Enam. This rapprochement between academia and the administration is one of the distinctive features of this approach.
An Inclusive Consultation Timeline
The registration phase for contributing to this national policy is open from 8 September to 9 October 2026, followed by technical exchanges organised through 18 December. The government is calling on experts, researchers, civil society members, private sector representatives and citizens to help define investment priorities.
According to the Prime Minister, this collaboration aims to "bring the academic world closer to public administration and the professional sector" to mobilise national expertise in public policy design — a strategic issue in a country where dependence on external financing remains high.
An Ambitious Growth Context
This initiative is set against a backdrop of favourable economic projections: Madagascar is targeting 6% growth in 2026, according to Africa24. The effectiveness of public investment will be decisive in achieving this, in a country where the electricity access rate remains below 20% and transport infrastructure still insufficiently structures the territory.
The partnership with the United States — including DFC, Exim Bank and the Department of Commerce — announced in early September represents an additional opportunity to finance projects eligible for a well-defined national investment policy.
Why It Matters
Madagascar has for decades suffered from scattered, under-documented and poorly evaluated public investment. This national policy initiative is an institutional response to that structural problem. If carried out rigorously — and if its results are effectively integrated into subsequent budget cycles — it could transform the way public money is spent in Antananarivo. An essential prerequisite for attracting more private capital and international partners.
Source: Newsmada, 9 September 2026.