The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Madagascar  
Rank: 113 · Score: 24.0  

Basic facts, 2015        
Population (millions) 24.2   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 9.7   M&A volume (quartile) 3rd
GDP per capita (US$) 399.2   Venture capital investments (quartile) Bottom
GDP growth (per cent) 3.4   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VCPE Country Attractiveness Index 113 7, 11, 15, 12, 12 24.0
1 Economic Activity 82 36, 46, 40, 45, 43 80.3
2 Depth of Capital Market 117 6, 3, 8, 6, 8 5.8
3 Taxation 73 60, 58, 59, 53, 52 92.7
4 Investor Protection and Corporate Governance 108 10, 11, 14, 14, 17 43.4
5 Human and Social Environment 109 25, 22, 23, 19, 16 29.5
6 Entrepreneurial Opportunities 90 38, 38, 38, 37, 35 40.2


 
Historic performance, 2012-2016   Key driver performance, 2016

   

VCPE Rank  
VC Rank  
PE Rank
Madagascar  
Africa
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Envorinment
Entrepreneurial Culture
and Deal Opportunites
Cameroon 88.1 6.9 72.3 47.4 31.7 33.8
Ethiopia 94.7 6.6 88.9 39.0 36.2 33.2
Senegal 79.1 5.4 61.8 55.6 39.4 36.0
Madagascar 80.3 5.8 92.7 43.4 29.5 40.2
Mali 83.3 6.5 86.0 47.9 34.0 27.9
Mozambique 58.9 8.6 82.2 29.9 31.2 30.8
Lesotho 60.1 5.2 87.2 59.3 62.7 21.8
Last updated: 8 August 2016