Madarail : Mamy Ravatomanga’s exit raises State’s hopes for WB loan
According to an Africa Business+ investigation, Madarail was sold to the Malagasy State in April by its former majority shareholder, businessman Mamy Ravatomanga.
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▪ Madarail : Mamy Ravatomanga’s exit raises State’s hopes for WB loan
▪ According to an Africa Business+ investigation, Madarail was sold to the Malagasy State in April by its former majority shareholder, businessman Mamy Ravatomanga.
▪ https://www.africabusinessplus.com/en/813508/mamy-ravatomangas-sale-of-madarail-to-state-stalls-world-bank-loan/
This move may unblock an earlier World Bank investment plan. The bank is nevertheless assessing the reputational risk following a supplement to the initial transfer price obtained by Mamy Ravatomanga. The Malagasy Minister of the Economy indeed recently sent a letter to the World Bank requesting the file be reopened while the IFC remains searching for shareholders for Madarail.
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