Berliner Boersenzeitung - French president announces economic deals with Madagascar

EUR -
AED 4.202809
AFN 72.097162
ALL 95.786655
AMD 431.439057
ANG 2.048573
AOA 1049.415759
ARS 1600.159384
AUD 1.631526
AWG 2.059922
AZN 1.946316
BAM 1.951454
BBD 2.304767
BDT 140.417249
BGN 1.956135
BHD 0.434931
BIF 3397.133571
BMD 1.144401
BND 1.464338
BOB 7.907388
BRL 6.100344
BSD 1.144351
BTN 105.626738
BWP 15.593269
BYN 3.385958
BYR 22430.261126
BZD 2.301374
CAD 1.568877
CDF 2582.913266
CHF 0.903665
CLF 0.026583
CLP 1049.655944
CNY 7.892473
CNH 7.896257
COP 4213.914357
CRC 538.400821
CUC 1.144401
CUP 30.326629
CVE 110.019953
CZK 24.464976
DJF 203.77613
DKK 7.471852
DOP 70.303413
DZD 152.804659
EGP 59.88872
ERN 17.166016
ETB 178.620459
FJD 2.550527
FKP 0.860334
GBP 0.863347
GEL 3.124469
GGP 0.860334
GHS 12.427321
GIP 0.860334
GMD 84.117996
GNF 10031.656512
GTQ 8.775454
GYD 239.40677
HKD 8.958085
HNL 30.290534
HRK 7.538742
HTG 150.045803
HUF 393.085178
IDR 19409.0995
ILS 3.598386
IMP 0.860334
INR 105.954202
IQD 1499.061144
IRR 1512583.514184
ISK 144.53934
JEP 0.860334
JMD 179.550088
JOD 0.811364
JPY 182.495918
KES 148.010337
KGS 100.077533
KHR 4588.779421
KMF 493.237021
KPW 1029.960907
KRW 1719.748978
KWD 0.351823
KYD 0.953576
KZT 560.21224
LAK 24520.385795
LBP 102472.163961
LKR 356.136777
LRD 209.403596
LSL 19.219393
LTL 3.379118
LVL 0.692237
LYD 7.301737
MAD 10.777695
MDL 19.962537
MGA 4751.417178
MKD 61.503014
MMK 2402.567533
MNT 4084.341362
MOP 9.224754
MRU 45.784025
MUR 53.226009
MVR 17.680917
MWK 1984.180639
MXN 20.448216
MYR 4.507221
MZN 73.138831
NAD 19.219393
NGN 1585.566919
NIO 42.106217
NOK 11.172719
NPR 169.002581
NZD 1.97261
OMR 0.440025
PAB 1.144251
PEN 3.946211
PGK 5.003855
PHP 68.194646
PKR 319.517539
PLN 4.27653
PYG 7382.556846
QAR 4.159735
RON 5.107007
RSD 117.109163
RUB 91.651288
RWF 1669.880678
SAR 4.294863
SBD 9.214394
SCR 17.472084
SDG 687.784516
SEK 10.806413
SGD 1.466619
SHP 0.858597
SLE 28.094957
SLL 23997.530791
SOS 652.845918
SRD 42.969965
STD 23686.791775
STN 24.445552
SVC 10.012699
SYP 126.484907
SZL 19.213206
THB 36.996194
TJS 10.968171
TMT 4.005404
TND 3.384162
TOP 2.755443
TRY 50.576857
TTD 7.760715
TWD 36.843533
TZS 2980.860735
UAH 50.462505
UGX 4302.417235
USD 1.144401
UYU 45.967616
UZS 13817.224924
VES 506.63165
VND 30090.881941
VUV 135.32917
WST 3.130183
XAF 654.499235
XAG 0.014083
XAU 0.000228
XCD 3.092801
XCG 2.062307
XDR 0.813987
XOF 654.499235
XPF 119.331742
YER 272.99679
ZAR 19.305382
ZMK 10300.948139
ZMW 22.273391
ZWL 368.49668
  • RBGPF

    0.1000

    82.5

    +0.12%

  • JRI

    -0.2300

    12.59

    -1.83%

  • RELX

    -0.0400

    34.14

    -0.12%

  • GSK

    -0.8900

    53.39

    -1.67%

  • NGG

    0.0900

    90.9

    +0.1%

  • BCE

    -0.1100

    25.57

    -0.43%

  • BCC

    0.3800

    70

    +0.54%

  • CMSC

    -0.1500

    22.99

    -0.65%

  • BTI

    0.0400

    59.93

    +0.07%

  • RYCEF

    -1.1300

    16.12

    -7.01%

  • AZN

    -2.6000

    189.9

    -1.37%

  • RIO

    -2.8700

    87.83

    -3.27%

  • CMSD

    -0.1100

    22.99

    -0.48%

  • VOD

    0.1000

    14.41

    +0.69%

  • BP

    0.5100

    42.67

    +1.2%

French president announces economic deals with Madagascar
French president announces economic deals with Madagascar / Photo: Ludovic MARIN - POOL/AFP

French president announces economic deals with Madagascar

France and Madagascar announced Wednesday they would strengthen economic cooperation through several ambitious projects, including a major hydroelectric dam, as President Emmanuel Macron kicked off a two-day state visit to the Indian Ocean island.

Text size:

The visit, the first official trip by a French president in 20 years, is intended to strengthen bilateral ties and consolidate France's presence in the Indian Ocean despite ongoing colonial-era disputes.

Macron announced after talks with President Andry Rajoelina that several agreements would be concluded during the visit, covering energy, digital technology, infrastructure and tourism.

They include funding from the French development agency, AFD, and a loan from the French treasury to support the construction of a major hydropower dam in Volobe, in the east of the country, which has been in the pipeline for almost a decade.

A deal is also expected to be reached for the entry of French electricity giant EDF into Madagascar's hydroelectric company, CGHV, an official told AFP.

Macron called for a "partnership" between the two nations over strategic rare earth minerals needed for renewable energies, of which Madagascar has extensive reserves.

Rajoelina meanwhile urged future investment in the island's "immense potential", of which France is already the top trading partner.

Macron's trip comes with France facing challenges to its sovereignty of some of its Indian Ocean territories and the growing ambitions of China and Russia in the region.

Madagascar, a French-speaking island of 30 million people, disputes France's ownership of several small islets nearby called the Scattered Islands that stayed under French rule when its other African colonies became independent.

Similarly, the neighbouring archipelago nation of the Comoros claims the right to the island of Mayotte, a French department.

Both occupy a strategic position in the Mozambique Channel, a major transit route for international trade and rich in gas and oil.

- Land and legacy -

Demands for the handover of these territories are about "national identity, access to resources and, moreover, a means of pressure to obtain something else from France", said Denys-Sacha Robin, an international maritime law specialist at the University of Paris-Nanterre.

While Paris favours a "co-management"of the Scattered Islands, there is a push for Rajoelina to raise a full handover, similar to the 2024 deal for Britain to return the Chagos Islands to Mauritius.

Another theme running through the visit is the uncomfortable legacy of France's colonisation of Madagascar -- the fifth largest island in the world and known for its rich biodiversity and natural resources but burdened by high poverty.

While Macron has pledged to return various cultural items taken by the French occupiers, plans were called off for him to bring back the skull of a king decapitated in 1897 by French troops and taken to France as a trophy.

One issue holding up the restitution of the remains of King Toera is a family request that his desecrated tomb be restored.

There are also demands for France to make a stronger admission of its colonial-era transgressions on the island, which gained full independence in 1960.

This includes the establishment of a commission "to shed full light on what are called colonial abuses", said University of Antananarivo historian Jeannot Rasoloarison.

The French president will also advocate for greater economic, health, maritime and security cooperation between Madagascar and France's regional possessions, including Mayotte and the island of Reunion.

On Thursday, he will call at a summit in Antananarivo of the Indian Ocean Commission (IOC) for Mayotte to be included in the grouping, which is being blocked by the Comoros.

His co-accused Philippe Francois, sentenced to 10 years, was transferred to France in 2023.

(B.Hartmann--BBZ)