Baobab Bank Madagascar Announces Partnership with Mastercard

Antananarivo, January 19, 2024 – In collaboration with Mastercard, Baobab Bank Madagascar is pleased to introduce two new payment cards to its clientele, aimed at simplifying their local and international financial transactions.

Faithful to its commitment, Baobab Bank Madagascar has taken an additional step in its transformative journey. The constant desire to meet the needs of its clientele drives the bank to innovate and introduce new payment offerings. Another stride towards transformation in service to an evolving clientele.

Today, Baobab Bank Madagascar proudly presents its Mastercard Standard Elatra and Platinum Premium cards, designed to provide clients with an expanded range of services. This offering once again demonstrates the bank’s commitment to sustainably support its clients through their evolving projects.

Baobab Bank invites its clients to explore the benefits of the Mastercard offerings and capitalize on the opportunities they present for achieving their financial aspirations.

About Baobab Bank Madagascar

Since 2005, from Microcred to Baobab Bank Madagascar, the institution has demonstrated consistent growth and evolution. With 255,000 clients acquired over its 16-year presence in Madagascar, Baobab Bank’s journey started with a single branch and has expanded to 36 branches, over 450 agents, and a workforce of over 750 employees. This robust foundation positions the bank to provide enhanced support to its clients, with a mission to effectively contribute to the socio-economic development of the country. By 2025, the institution aspires to be the benchmark bank, continually exceeding client expectations.

About the Baobab Group

Baobab is a financial services group operating in seven countries in Africa and one province in China. Through its subsidiaries, Baobab provides financial services to half a million micro and small enterprises, in line with its ambition to improve access to financing for those currently not served by traditional banks. Our comprehensive range of products includes micro-loans, savings solutions, transaction and everyday banking services, as well as innovative banking products such as mobile payments, digital nano-loans, and prepaid solar solutions. Our 5,000 employees strive to make financial services more accessible, inclusive, and transparent.

For more information: www.baobab.com

About Mastercard

Mastercard is a global technology company in the payment industry. Its mission is to connect and power an inclusive digital economy, benefiting everyone, everywhere, by enabling safe, simple, smart, and accessible transactions. Mastercard relies on secure data and networks, its partnerships, passion, innovations, and solutions to empower individuals, financial institutions, governments, and businesses to realize their full potential. Present in more than 210 countries and territories, Mastercard is building a sustainable world to open up a horizon rich in priceless possibilities for everyone.

For more information: www.mastercard.com

Tiana Elodie Rabeherisoa Baobab Bank Madagascar

Phone: +261 38 09 686 78 | E-mail : [email protected]

Habibatou Cissé Baobab Group

Phone: +221 77 679 94 39 | E-mail :[email protected]

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