Madagascar is among the poorest countries in Africa and also ranks low on the continent for financial inclusion - only 5.5% of the adult population has an account at a formal financial institution. With only 19.5 banks and microfinance branches for every 100,000 people, there is a lot of room for improvement when it comes to increasing access to formal financial services.
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![Small Farmers, Mobile Banking, Financial Inclusion in Madagascar Small Farmers, Mobile Banking, Financial Inclusion in Madagascar](/sme-d8/dev/sites/default/files/styles/large/public/blogs/470957_sme_finance_forum_4154171384793970movla.jpg?itok=DnKzDuyc)