CULTURAL BARRIERS TO MICROFINANCE IN MADAGASCAR

SCIENCES OF MANAGEMENT

Microfinance has continued to evolve over the course of the early 20th century. In terms of the number of borrowers, it has more than 139 million in 2017 versus 132 million in 2016. Their expansions are not simply in terms of increases in borrowers or outstanding loans, but also in the level of offerings provided by these institutions. At the very least, according to the 2018 Microfinance Barometer, the number of microfinance institutions worldwide has seen a decrease of 131 MFIs or 11.78%. In Africa, a decrease of 59 microfinances compared to 2016 or 26.94% is noted. And in Madagascar in 2014, a decrease of 5 service points, 15% for outstanding loans and 25% for outstanding savings were observed among non-mutual MFIs compared to 2013. This decrease is related to various endogenous and/or exogenous parameters. This article attempts, then, to provide a possible approach to microfinance. We refer to the specificity of Madagascar's cultures and customs with respect to financial inclusion and the use of formal financial services such as microfinance. These cultures and customs focus mainly on the existence of Fady, prohibitions, traditional financial cultures, traditional gender equality cultures... Our study tries, through the method of building a database and a diagnosis, to bring out the importance of these notions with microfinance. Case studies from the regions of Madagascar form our field. And, we ask ourselves how the cultures and customs of the Malagasy constitute a blockage to microfinancialization?

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