IPAE 2 invests in SOAFIARY, a leading Malagasy agro-food company, marking its first investment in Madagascar to enhance local operations and promote social responsibility.

Information on the Target

SOAFIARY, established in 2006 by Malagasy entrepreneur Malala Rabenoro, is a prominent player in Madagascar's agro-food sector. The company specializes in the collection, processing, and sale of cereals such as maize and rice, along with legumes including beans, lentils, and soybeans, catering to both local and international markets. It currently employs nearly 200 people, with 88% of its workforce being women.

Since starting its operations, SOAFIARY has earned a solid reputation in the industry and began diversifying its activities in 2017. The company has established a feed production unit and initiated the SOADIO project, a contract farming initiative in collaboration with the diocese of Vakinankaratra. This project aims to train farmers, provide them with necessary agricultural equipment and inputs, and purchase all produce from the 4,100 hectares of land owned by the diocese. SOADIO addresses critical issues of traceability and product quality.

Industry Overview in Madagascar

The agro-food industry in Madagascar is a vital sector that significantly contributes to the country’s economy, employing a large portion of the population and providing es