Madagascar

Development of the Caisse d’Epargne de Madagascar (CEM) into a universal credit institution

Country
Madagascar

Local Project Partners
Caisse d’Epargne de Madagascar (CEM)

Donator
Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ)

Duration
01.01.2005 - 31.12.2013


CEM is the oldest financial institution of Madagascar. In the years 2001/2002 it was transformed into a public limited company with the government being the sole shareholder of the savings bank. Like the German Sparkassen, CEM fulfils a social task oriented towards the benefit of the public and substantially contributes to the mobilising of savings, although loans are not yet granted. CEM's savings volume totals about € 65 million and increased by 50% from 2005 to 2007.

To be able to maintain its market position, withstand rising competition and at the same time generate sustainable impetus for national development, CEM needs to realign and reorient its scope of products and services. Thus, it is of particular importance to launch the lending business and introduce current accounts combined with payment transfer services. The Hamburger Sparkasse is supporting and co-partnering project activities with CEM. In addition it is planned to cooperate with the Hamburg Chambers on the establishment in Madagascar of vocational training to qualify as certified banker.

Within the scope of an orientation phase from mid-2005 to end-2008 two new savings products were successfully launched, working procedures automated and modernised, and a large number of training measures were executed. In cooperation with the local Chamber of Industry and Trade it was thus succeeded in introducing a qualified and certified banking profession in Madagascar that follows the tried and tested German model of dual vocational training.


Services provided

  • Consultancy services Status analysis,
  • Definition of development options,
  • Development and support to implementation of an all-embracing, new corporate strategy (including expansion of product range, improvement of market image, marketing, extensive measures for human resource development, training, optimisation of operations, IT, general organisation),
  • Access to qualified banking profession on a broader basis.

Deutsche Sparkassenstiftung für internationale Kooperation e.V.
Simrockstraße 4, 53113 Bonn

Phone: +49 228 9703-0
Fax: +49 228 9703-6613 or -6630

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