Antananarivo, July 22, 2026 – The company mandated to manage the National Industrial Development Fund (FNDI) was officially established in the presence of members of the CNIM Bureau.

CNIM holds 20% of the company’s capital alongside the Malagasy Government (40%), the Société Nationale de Participations SONAPAR (35%), and the Economic Development Board of Madagascar EDBM (5%). CNIM will be represented on the Board of Directors of FNDI S.A. by its President, Mr. ANDRIAMANALINA Rivo.

As an entity for dialogue, consultation, and public-private steering, with governance predominantly private, CNIM ensures that the interests of the private sector are taken into account in defining strategic directions related to industrial development.

Within its mandate of strategic steering of the Pact for Madagascar’s Industrial Programming and monitoring its implementation, CNIM will ensure that FNDI’s interventions align with the priorities set by the Pact. This Pact aims to raise the industrial sector’s contribution to 30% of the gross domestic product (GDP) by 2040 through six priority sectors (agro-industry, essential oils, textiles and apparel, mining, energy, and high-end crafts).

FNDI serves as a financial instrument designed to support the country’s industrial development, particularly through assistance in creating new industrial units and upgrading artisanal units into semi-industrial or industrial structures.

Following the official establishment of FNDI S.A., CNIM will also participate in the various governance committees to be set up to support the functioning and strategic monitoring of the Fund.