PAMF client Alinoro Rajaomarosata (centre) runs three businesses and has 15 employees. Businesses: ecological ...

AKDN / Lucas Cuervo Moura

In poor rural areas, community-based savings groups supported by AKF are often providing people with access to...

AKDN / Lucas Cuervo Moura

PAMF client Abdallah Karimo Angelo is overseeing his restaurant, one of the four businesses that he has establ...

AKDN / Lucas Cuervo Moura

A Premiere Agence de Microfinance (PAMF) client in Madagascar.

AKDN / Rindra Ramasomanana

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Madagascar | Microfinance


PAMF disbursed more than 695,000 digital loans in 2021

In the northern region of Diana, Madagascar, Karimo Angelo Abdallah has been a client of La Première Agence de MicroFinance (PAMF) since 2015. PAMF loans have helped him expand and improve his small businesses, and as a result, provide a better quality of life for his family. Karimo tells his loan officer that using M-Kajy – a new digital credit and savings service co-launched by PAMF and Orange Money – makes banking safer, easier and more reliable.

AKDN / Lucas Cuervo Moura

Premiere Agence de Microfinance

PAMF-Madagascar is a deposit and credit institution licensed by the Central Bank of Madagascar. Its goal is to reduce poverty by fighting economic and social exclusion through access to quality financial solutions adapted to the realities of the Malagasy market. Seventy percent of its borrowers live in rural areas, taking advantage of digital financial services. However PAMF-Madagascar has diversified into different geographic areas and economic sectors, such as the urban areas of the Analamanga region, and cities such as Majunga in Boeny, where it is focused on small traders and artisans. It now has 16 branches in the Analamanga, Atsinanana, Boeny, Diana, Sofia and Itasy regions, with a client portfolio of up to 400,000 spread across the island.

As well as loans to groups for rice and vegetable production and small equipment, and group savings accounts, PAMF-Madagascar offers loans for warehousing and inventory credit in its own granaries or in borrowers’ own or village granaries.

To support the evolution of digital financing, AKAM transferred majority ownership to AKFED in 2016. In 2019, it launched its digital financial services (DFS) strategy, with an offer of mobile banking, which has become a new delivery channel for the institution. PAMF-Madagascar disbursed more than 611,000 DFS loans in 2020. These valued US$19 million and accounted for more than 10 percent of its total portfolio.

As part of its commitment to the country, PAMF-Madagascar worked with the Grameen Foundation to develop the first Progress Out of Poverty (PPI) scorecard for Madagascar, a tool widely used in microfinance to measure poverty outreach.

Aga Khan Foundation

AKF establishes and strengthens community-based savings groups through training, links to markets and organisational development support. It offers financial education to support fishermen and their households.