Madagascar is an island country in East Africa. It’s the fourth largest island in the world. We predict the population will cross slightly over 33.5 million from 27.8 million in the coming decade. That’s a growth rate of 21%.
The country had a GDP of $13 billion or $460 per capita in 2019. The economy is heavily reliant on agriculture, which is prone to climate change and droughts, making it one of the poorest countries in the world.
Power and Water
Madagascar has an electricity access rate of less than 20% at a national level. The government is looking for ways to improve the current situation and double the rate by 2023. It is looking for private sector investment to help generate more power and expand its grid network. We expect the country will need an additional 220 megawatts of electricity capacity to maintain its current electricity access rate.
More than half the population of Madagascar lacks access to safe and clean water. The country needs new infrastructure for water management and fix the existing ones, so they can start functioning. Madagascar aims to achieve universal access to clean water for all by 2030 but this will need investment and dedication from all the stakeholders. According to ABiQ’s business intelligence tool, we expect the country will need an additional 500 million cubic metres of potable water per annum over 10 years.
The retail sector is not completely developed yet. The consumers prefer smaller shops and markets which are close to them. The retail market will grow as the population grows and will need more retail space. We expect the country will need an additional retail space of 700,000 square metres over the next decade.
Madagascar has made achieving universal health coverage a priority. The country is making efforts to provide access to more people at a low cost. We expect the country will need an additional 41 hospitals by 2030.
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|Population in 2020||27.8 million|
|Population by 2030||33.6 million|
|Population growth from 2020 to 2030||21 %|
|GDP 2019 (est)||$ 13 bn|
|Electricity Capacity required by 2030||220 MW|
|Additional Potable Water required per annum by 2030||500 million m3|
|Additional retail by 2030||700,000 m2|
|New Hospitals required by 2030||41|