Madagascar poised for recovery

The Madagascar cement industry is expecting to see a slight improvement in market conditions, based on a stabilization of the political outlook brought about by the presidential elections of late 2013 which put an end to a political crisis that has been clogging the economy for several years.

In November 2014, the Abu Dhabi Fund for Development signed a Memorandum of Understanding with the Secretary General of the Ministry of Finance and Budget in Republic of Madagascar to extend Dh110 million in soft loans for the construction of a 117km two-lane road and seven bridges that will connect key rural areas of the country. In 2014, total cement consumption was only slightly lower that the historical high of 0.79 million tons in 2013.

Read the rest of the article in the CemWeek Magazine, Issue 27.