Gemcorp and Fonds Souverain Malagasy Announce Strategic Partnership to Support Investment in Madagascar

Under the leadership of His Excellency Michael Randrianirina, President of the Republic of Madagascar and guided by his vision to “transform the potential and endowments of the country into tangible impacts for the people,” the partnership will support FSM and the Government of Madagascar in advancing the country’s growth and investment agenda. This includes a particular focus on unlocking the value of Madagascar’s mineral resources, alongside its broader assets across mining, energy and infrastructure.

As part of this partnership, FSM and the Government of Madagascar will set the strategic direction and priorities, with Gemcorp supporting FSM in structuring projects, developing investment and financing solutions, and connecting projects with international sources of capital, investors and partners.

The partnership is intended to help attract foreign direct investment and long-term international capital into projects, supporting Madagascar’s economic development and the sustainable realisation of its natural resources.

His Excellency Andry Raharinomena, Chairman of FSM, said:

“Madagascar is actively building strategic partnerships and attracting investment. We have assets across energy, infrastructure and mining, and FSM is determined to work with world-class partners to realise their full potential. This agreement with Gemcorp marks an important step forward, and we look forward to building on this partnership together.”

Atanas Bostandjiev, Founder and Chief Executive Officer of Gemcorp, said:

“We are delighted to enter into this partnership with FSM. Madagascar has the ambition, the leadership and the strategic assets to become one of Africa’s leading investment destinations, and we look forward to helping FSM bring the world’s capital to its priority projects. This is the kind of partnership Gemcorp is built for: we bring financing and structuring, commodities trading and offtake, industrial operations and advisory, backed by a real presence on the ground, to help turn national priorities into investable projects and, ultimately, delivered outcomes for the Malagasy people.”

Madagascar has meaningful potential across critical minerals, energy and infrastructure. Working alongside FSM, the partnership will focus on translating selected objectives into well-structured bankable projects – with the commercial, financing and delivery foundations that give international partners the confidence to invest for the long term.

About Gemcorp

Gemcorp is an integrated investment and operating group focused on emerging markets. Founded in 2014, we originate, structure, finance, invest in and operate strategic businesses and infrastructure across the emerging markets - combining proprietary capital with capital managed for institutional and private investors.

Across five complementary divisions - asset management, commodities trading, principal investments, operational assets, and critical supply and logistics - Gemcorp pairs deep local presence with the capital and operating capability to deliver in markets where others will not. With teams across Africa, the Middle East and Latin America, we turn undercapitalized opportunities into lasting value for our investors and durable growth in the economies where we operate.

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