The Malagasy State has agreed to compensate the Belgian free-zone company Polo Garments for financial losses incurred during the 2009 riots. The compensation amount, initially requested at $13 million (60 billion ariary), was negotiated down to $11 million (50 billion ariary). This significant sum, which could have been allocated to development projects, public services, or healthcare, was instead used by the State to step in for an insurance company that refused to pay to avoid bankruptcy.
This settlement, coming 17 years later, is seen as a diplomatic move to mend ties with Belgium, which had refused to accredit the Malagasy ambassador until Colonel Randrianirina’s recent visit to Brussels. This gesture, however, raises questions about fairness for other Malagasy companies and businesses—including the Tiko Group—that were also victims of the 2009 looting and have yet to receive any compensation despite years of promises.
The article highlights that the lack of consistent state support for all victims creates a sense of inequality. Furthermore, the lingering impact of the 2009 looting remains a significant deterrent for potential investors in Madagascar, who view such instability as a major risk.
Captured & Published at: 2026-09-16 05:39:12 (Madagascar Local Time EAT)
Original Source: https://www.lexpress.mg/2026/09/charite-bien-ordonnee.html