Antananarivo, Madagascar – April 24, 2026 – IFC’s partnership with Malagasy family‑owned Groupe Talys is set to help close Madagascar’s housing gap, expand access to modern retail, and generate significant employment—creating up to 14,000 indirect jobs, with strong opportunities across retail, logistics, and management. The investment will strengthen domestic supply chains and improve access to affordable, high‑quality construction materials and essential consumer goods, supporting more resilient and inclusive growth.
To support this expansion, IFC is providing a €9 million long‑term loan— a multi-purpose financing structure covering both working capital and capex across several subsidiaries, rarely available in the local market —to scale Groupe Talys’ flagship businesses: Sanifer, Madagascar’s largest importer and distributor of construction materials and home‑improvement products, and Kibo, its cash‑and‑carry grocery retail concept. For this transaction, the Talys Group was advised by Enexus, represented by Julien Lefilleur.
“This project is aimed at expanding the availability of high-quality materials to benefit consumers to help improve their homes and at increasing formal job prospects through retail expansion, particularly for women. As evidence suggests, when women are economically empowered, communities thrive and economies grow. Our investment in Groupe Talys reflects IFC’s commitment to private sector-led growth that is inclusive and resilient,” said Cláudia Conceição, IFC Regional Director for Southern Africa.
Madagascar faces a housing deficit of about two million units, with demand growing by over 100,000 homes annually. As both the construction materials and grocery retail markets in Madagascar remain largely fragmented and informal, this partnership will support to expand modern retail formats and improve access to affordable, high-quality goods for families and small contractors alike in the country.
“We would like to express our sincere gratitude to the IFC team for their trust and continued support. This partnership marks an important milestone in Groupe Talys’ journey — the result of years of disciplined growth and a continuous drive towards greater maturity and impact. Beyond building a leading and more structured distribution platform in Madagascar, our ambition is to create real pathways for women, men, and youth to access dignified work, build their homes, and actively contribute to the development of the country,” said Feride Hassanaly, CEO of Groupe Talys.
With informal employment accounting for roughly 60 percent of city jobs in Madagascar, the expansion of Sanifer and Kibo will create new formal opportunities, particularly for women across operations, merchandising, and customer service. By meeting rising demand and modernizing retail, these brands will fuel job creation, strengthen skills, and contribute to the country’s economic resilience.
The partnership supports the World Bank Group’s Country Partnership Framework (FY23–27) for Madagascar — promoting job creation, strengthening human capital, and enhancing resilience against economic shocks. It also aligns with the WBG Gender Strategy (FY24–30) by accelerating gender equality through formal employment generation and workplace inclusivity.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
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About Groupe Talys
Groupe Talys is a Malagasy family-owned company founded in 1993 and headquartered in Antananarivo. The Group began with the creation of Sanifer, now a leading importer and distributor of construction materials in Madagascar, and has since diversified across several sectors, including distribution, e-commerce, real estate, and hospitality.
Through its main brands, including Sanifer and Kibo, Groupe Talys focuses on improving access to construction materials and everyday consumer goods adapted to local purchasing power, while contributing to the development of more structured distribution channels in Madagascar.
With more than 30 years of presence in the country, the Group plays a key role in local supply chains and continues to expand its operations to better serve households and businesses across Madagascar.
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