Madagascar

Established in Madagascar since 2013, AerialMetric is a company operating aircraft and drones for the delivery of medical goods in landlocked areas of Madagascar, for organic larvicide spraying and for topography.

It also has a cargo aircraft production and maintenance operation, based in Antananarivo, and an R&D center in Maroantsetra in northern Madagascar.  Today, its customers are mainly international NGOs. Eventually, AerialMetric plans to become the benchmark operator of Unmanned Aerial Vehicles (UAVs) in French-speaking Africa.

"In this country of almost 600,000 km2, with 28 million inhabitants and a dozen national roads that are more or less passable depending on the season (barely more than a French department), the question of territorial accessibility is a crucial public health issue." Find out more: an article published by Le Monde on AerialMetric

Entrepreneurs

CEO of AerialMetric since January 2021, aeronautical engineer and holder of an MBA from INSEAD in 2006, Pierre-Loup Lesage's career in Madagascar began in 2009 when he was appointed Regional Coordinator for Madagascar and Niger for the William J. Clinton Foundation. He then joined PSI (Population Services International) as Country Representative and then Senior Country Representative between 2012 and 2020.

Stéphane Bihr (Chief of Technology Officer) is a French process engineer (ENSIC) who also studied at the University of California, Berkeley. He is a trained drone pilot (DGAC license) and the principal founder of AerialMetric. He has an intimate knowledge of Madagascar, having spent over 23 years in different parts of the red island. Stéphane is an expert in the design and conception of aerial imagery solutions and large UAVs (manned aircraft, multicopters and VTOLs).

Agnes Hiere (Chief Financial Officer): After developing technical skills in the financial industry (JPMorgan), Agnes strengthened her managerial skills in developing contexts, leading programs and organizations focused on strengthening health systems, rural socio-economics, agriculture and urban development (UN system, INGOs). Agnes Hiere is also founder and president of Golden Brick Road. Agnes holds an MBA, two masters degrees in law and public affairs, and a bachelor's degree in political science.

Partnership with I&P

AerialMetric is supported by I&P through the I&P Afrique Entrepreneurs 2 (IPAE 2) fund. The funds raised are intended for :

• Strengthening AerialMetric's presence in Madagascar;
• Exploration of two other countries in French-speaking Africa, with a view to an effective presence in 2025;
• Strengthening of position in penetrated countries;
• Focus on research and development (R&D) to improve drone flight technology and ergonomics.

Expected impact

• Access to healthcare for people living in remote rural areas of Madagascar and future host countries;  
• Fight against malaria;  
• Reduction of carbon emissions linked to the transport of medical equipment and medicines;  
• Creation of local jobs for young people in an innovative sector, opening up opportunities for technical and specific professions (piloting, engineering) with decent salaries.

Laiterie Maminiaina, based in Antsirabe since its creation in 2009, is run by Serge Randriamahefasoa, a Malagasy entrepreneur with strong roots in the dairy triangle, his native region.

Number 1 for cheese in Madagascar, Laiterie Maminiaina currently works with 750 breeders, employs around 50 people in its factory, and distributes its products through a network of 8 sales outlets in the capital and Antsirabe.

The entrepreneur's ambition is to raise his profile in the dairy products market and join forces with an international player in dairy or agri-food processing.

Partnership with Miarakap

The company is financed by Miarakap, I&P's partner in Madagascar.

The funds raised will enable the company to double its supply capacity, with the number of partner farmers rising to 3,000 (i.e. +15,000 people affected) by 2027. 

The partnership with Miarakap will also enable the dairy to acquire new machinery and set up infrastructure in line with international standards. Laiterie Maminiaina will be able to diversify its products to meet consumer demand.

Miarakap positions itself as the entrepreneur's strategic partner, not only in the field of finance, but also in other important aspects of the business (marketing, human resources, production, etc.), and provides the entrepreneur with a useful external vision to help him make the best decisions.

Visit Miarakap's website to read more

OKALOU, a company specializing in events and entertainment, was founded by a Malagasy couple, Andy and Seheno Rasoanarivo in 2012. 

The company employs 38 staff and works part-time with over 150 people. 

OKALOU manages children's playgrounds in shopping centers, and also operates the Antanimena Skate Park in Antananarivo. 

In the space of 10 years, the company has established its reputation in the sector by organizing major innovative and entertaining annual events (LOKORACE, MAZAVAL'RUN), and by creating and developing its own playgrounds.

Partnership with Miarakap

The company is financed by Miarakap, I&P's partner in Madagascar.

Miarakap's investment will enable OKALOU to launch its project to create a multi-purpose venue, capable of hosting corporate and private events; to create a sales, marketing and communications division; to set up new services within the Antanimena Skate Park, but above all to structure and formalize the company.

Visit Miarakap's website to read more

Created in 2009 by Marie Stephanie Aina Raharijaona, Stephaina Beauty is a chain of beauty parlors that offers a very complete range of cosmetic treatments, with a focus on nail care.

In 2021, more than 28,000 visits to the 4 Stephaina beauty parlors were recorded. A fifth salon should open in 2022 in the city of Majunga.

The entrepreneur

Stephaina was created by Stéphanie Raharijaona, who grew up in Antananarivo and followed a specialized training in nail prosthesis in Paris in parallel with her studies in interior design.

She opened her first salon in 2009, and had the capacity to finance herself already shortly after its opening. Stéphanie Raharijaona returned to France in 2015 to work as an executive assistant at UNESCO while managing her salon remotely.

She decided to return to Madagascar in July 2019, to both deploy the Stephaina salon brand and maximize its social impact through the professional training of young people: a mission that is at the heart of her vision and Stephaina's development model.

Partnership with Miarakap

Miarakap is committed to working with Stephaina to support them in:

⇒ The organizational structuring of the company
⇒ The development of the notoriety
⇒ The opening of 2 new salons per year
⇒ The launch of a range of Stephaina Beauty brand products marketed in the main salons

Expected impacts

Stephaina's main impact is on the social aspect via the creation of formal jobs, largely for young people who have left the school system or are marginalized. Thanks to a mentoring system within the salons, these young people without diplomas have the opportunity to be trained in the beauty industry and to be integrated into the workforce. With 10 salons open by 2026, Stephaina could create and/or maintain 230 jobs.

About Miarakap

Miarakap is the first impact investment company dedicated to financing and supporting Small and Medium Enterprises (SMEs) and high-potential start-ups in Madagascar.

Miarakap takes minority stakes in the capital of companies with high growth potential, for unit amounts ranging from 100 million to 1 billion Ariary, and provides strategic, managerial and technical support to its investments. As a player in impact investing, Miarakap's mission is to maximize its economic, social and environmental impact through its investments and to contribute to Madagascar's development.

Learn more abour Miarakap

Created in 2012, HERi Madagascar is a company that specializes in the distribution and financing of solar energy solutions in rural areas of Madagascar.

HERi is a socially committed company that acts on the sustainable economic and social development of rural populations in Madagascar by distributing innovative products and services through a network of energy kiosks managed by women entrepreneurs.

HERi's activity consist of:

• A network of kiosks and distribution points managed by franchised women entrepreneurs who develop the activity of renting solar lamps to populations without electricity in rural areas;
• A network of Microfinance Institutions that offer a credit purchase of HERi products to their clients;
• A PAY-As-You-Go (PAYGo) financing model for people living in peri-urban and rural areas.

HERi is the exclusive representative in Madagascar of two suppliers of solar-powered lighting systems for domestic use: Fosera and d.light. The company currently owns about 100 kiosks and rents an average of 26,000 solar lamps per day.

The entrepreneurs

Samy CHALIER holds an MBA from IE Business School and has 12 years of experience in international management. He has been supervising the restructuring and growth of HERi since 2016.

Ando RANDRIAMALALAHARISON holds a master's degree in finance and is an alumnus of AFD's Lead Campus program. She was an auditor in an accounting firm for 3 years before joining HERi in 2015 where she was first an internal auditor and then Administrative and Financial Director. Since 2017, Ando has been HERi's Deputy Managing Director.

Partnership with I&P

Investisseurs & Partenaires (I&P) has committed to HERi in order to:

• Develop a model for purchasing solar lighting systems on credit and at an affordable price for households through Pay-as-you-go;
• Enable energy inclusion for many families through a door-to-door approach;
• Fight climate change by providing clean, quality energy to the user;
• Create jobs in the most remote areas of Madagascar through its network of agents and franchisees.

Expected impacts

The company's mission is to bring a better quality of life to the population of rural Madagascar by providing an affordable way to access clean energy essential to their daily activities.

HERi's expansion into the less developed island's regions will create jobs, which is a pillar of development and a source of income for households.

It will allow households to switch to quality, clean and safe energy and away from traditional light sources such as candles and oil lamps commonly used by the rural population.

Learn more about HERi

Malakass is a young company whose mission is to contribute to the development of the cassava farming industry in the Atsimo-Andrefana region of Madagascar, thanks to the installation of a standard factory, allowing the transformation of cassava into high quality, bio and fair trade certified flour. The product is intended for both the local and international markets, in particular the major European importers, who are in demand for this high value-added product, which is gluten-free and used in both bakery and pastry-making.Malakass is a young company whose mission is to contribute to the development of the cassava farming industry in the Atsimo-Andrefana region of Madagascar, thanks to the installation of a standard factory, allowing the transformation of cassava into high quality, bio and fair trade certified flour.

The product is intended for both the local and international markets, in particular the major European importers, who are in demand for this high value-added product, which is gluten-free and used in both bakery and pastry-making.

The entrepreneur

Malakass is led by Houssen MEBOBALY, a graduate of INSEEC after a dozen years of study in France. After starting his career at BNP Paribas, he returned to Madagascar in 2019 to start his own business.

Struck by the under-valued potential of the cassava industry in his native region, while cassava flour consumption is rapidly increasing in Europe, he decided to add value by transforming it into high quality flour.

Partnership with I&P

I&P committed alongside with Malakass to:

• Fund the acquisition of the production line and the supply vans
• Fund the construction of the plant
• Fund the working capital requirements and ensure a minimum cash flow for the company during its first two years
• Support the company in structuring the supply through the research of subsidies, the implementation of certifications, training and support for producers ...
• Provide strategic and operational support

Read More : Press release