VolaZao, a newly established microfinance institution, has unveiled its identity and aims to serve Malagasy entrepreneurs and real economy actors. The institution's signature is "Eoakaikinao" and its slogan is "L'argent, c'est maintenant". With a focus on proximity, digitalization, and financing of value chains, VolaZao aims to bring financial services closer to Malagasy economic realities. The institution has obtained a conditional approval and will start its operations in Antananarivo and other major provincial cities before expanding nationwide.
VolaZao targets entrepreneurs, traders, and small economic units, often underfinanced, particularly in the agricultural sector. To better serve its clients, the institution relies on shareholders from the entrepreneurial and distribution world with strong roots in the country, including Basan, Arbiochem, and Taloumis. Their knowledge of suppliers, distributors, and traders facilitates the approach to clients. VolaZao's model focuses on value chains that connect producers, suppliers, distributors, and traders, allowing it to offer adapted credits for stocks, equipment, and working capital.
VolaZao's approach differs from traditional financial circuits, which often struggle to understand the activities of small economic units. Instead, the institution examines its clients' activities, transactions, and networks, rather than just their guarantees. According to Alexandre Mey, VolaZao's founding director-general, understanding value chain ecosystems is crucial to understanding the real needs of small operators. The institution combines physical agencies with digital pathways, offering "phygital" services that aim to respond quickly to financing needs.
VolaZao's strategy relies on FinTech, quantitative models, and artificial intelligence to provide fast and adapted financial services. The institution's logo, featuring two crescents and a green dominant color inspired by the national flag, symbolizes its values of proximity, impact, and trust. Alexandre Mey sees the logo as a baobab, a symbol of Madagascar, with symmetry representing discipline, rigor, and the meeting of two worlds: formal and informal operators.
The institution's values are built around three pillars: proximity, impact, and trust. Proximity starts with understanding clients, knowing when an agricultural producer is awaiting their harvest or when a trader needs to restock. It also requires transparency, with clients aware of credit costs and deadlines, and able to ask questions without being judged. Impact is measured by results, with VolaZao's success tied to the success of the entrepreneurs it supports.
VolaZao's governance structure, detailed by Théodore Rakotondramanga, administrator and audit and risk committee president, is built on solid governance, operational independence, compliance with laws, risk management, and client protection. The institution aims to become a major player in Madagascar's financial sector, benefiting those who have supported it. With its unique approach and values, VolaZao is poised to make a positive impact on the country's economy.
As VolaZao begins its operations, it is expected to create new opportunities for entrepreneurs and small economic units in Madagascar. The institution's focus on value chains and adapted credits will help to address the financing needs of these often-overlooked sectors. With its commitment to proximity, impact, and trust, VolaZao has the potential to become a leading microfinance institution in Madagascar, promoting economic growth and development.
Key points
- VolaZao's focus on value chains and adapted credits aims to address the financing needs of small economic units in Madagascar.
