The International Finance Corporation (IFC) announced on Thursday, April 24, a 9 million euro long-term loan to Malagasy family-owned conglomerate Groupe Talys, in a deal aimed at tackling Madagascar’s severe housing shortage, expanding modern retail, and creating thousands of formal jobs with a strong focus on women.
The financing targets two of Groupe Talys’ flagship businesses: Sanifer, Madagascar’s largest importer and distributor of construction materials, and Kibo, its cash-and-carry grocery retail concept. The investment is projected to create up to 14,000 indirect jobs across retail, logistics, and management.
The loan fills a critical gap in the local financing market. According to the IFC, the multi-purpose structure covering both working capital and capital expenditure across several subsidiaries is rarely available domestically.
Madagascar’s housing deficit stands at roughly two million units, with annual demand growing by over 100,000 homes. Both the construction materials and grocery retail markets remain largely fragmented and informal, and the partnership is intended to expand modern retail formats and improve access to affordable, high-quality goods for households and small contractors.
IFC Regional Director for Southern Africa, Cláudia Conceição, said the investment prioritises women’s economic inclusion, noting that when women are economically empowered, communities and economies benefit as a whole.
Groupe Talys Chief Executive Officer Feride Hassanaly said the IFC partnership marks a milestone built on years of disciplined growth, with ambitions beyond commerce. “Our ambition is to create real pathways for women, men, and youth to access dignified work, build their homes, and actively contribute to the development of the country,” Hassanaly said.
With informal employment accounting for roughly 60 percent of city jobs in Madagascar, the expansion of Sanifer and Kibo is expected to generate new formal opportunities particularly for women in operations, merchandising, and customer service.
The deal aligns with the World Bank Group’s Country Partnership Framework for Madagascar covering the fiscal years 2023 to 2027, as well as the World Bank Group Gender Strategy for fiscal years 2024 to 2030. Groupe Talys was founded in 1993 and has diversified across distribution, e-commerce, real estate, and hospitality over more than three decades.
