Macron Will Lead 80 French Business Leaders to Madagascar and Mauritius

According to MEDEF, an association regrouping the top French companies, a delegation of 80 captains of industry will accompany French President Emmanuel Macron during his upcoming tour of Madagascar, Reunion and Mauritius. The tour of the Indian Ocean island states is scheduled to take place from 23 to 26 April 2025.

Macron’s tour follows right in the footsteps of Indian PM Narendra Modi who was the guest of honor at the 57th Independence Day of the Republic of Mauritius which is celebrated on the same day as Mahatma Gandhi initiated his Salt March . 

During that visit, Modi upgraded India’s flagship strategy for the Indian Ocean from SAGAR to MAHASAGAR, which can be translated into ‘Grand Ocean Strategy.’ Additionally, India and Mauritius also upgraded their bilateral ties to an ‘Enhanced Strategic Partnership’ and signed a series of Memoranda of Understanding.

In preparation for the tour, France has agreed to restitute the cranium of King Toera to Madagascar as a gesture of goodwill. On 23 April 2025, Macron will arrive in Madagascar and hold bilateral talks with his Malagasy counterpart President Andry Rajoelina. Then, on 24 April 2025, Macron will take part in the 5th Indian Ocean Commission (IOC) Summit which will focus on #FoodSecurity.

After the Summit, Macron will hop over to Reunion for a stopover before landing in Mauritius. Reunion is considered administratively as an overseas department and region of France. In Mauritius, Macron will further explore partnership around #WaterSupply and other areas. The #CircularEconomy and #GreenFinancing will probably also feature prominently and the ‘Agence Francaise de Developpement’ (AFD) recently organized a conference on the theme of Sustainable Finance in Mauritius in February 2025.

As the 4th largest island in the world with an area of 587,041 square kilometers and a population of less than 30 million people, Madagascar has ample arable land and aspires to be ‘The Granary of the Indian Ocean‘ in line with modern trends of #OrganicFarming and bio products which can fetch a higher price. In the past, Madagascar was an exporter of rice and to this date, it still exports pulses and seafood. Thus, Madagascar also exports to EU and Mauritius premium tiger shrimps, known as gambas, which are highly appreciated by restaurants and hotels.

At another level, Madagascar and Mauritius both entertain territorial disputes with France over certain outer islands. Madagascar and France both claim ownership of the Glorious, Europa, Juan de Nova and Bassas da India Isles in the Mozambique Channel. On the other hand, although Mauritius and France initially arrived at an entente for the co-management of Tromelin Isle back in 2010, the French Parliament has yet to ratify it.

France also maintains defense agreements with both Madagascar, Mauritius and Comoros. France has military bases in Djibouti, Mayotte and Reunion. As recently as December 2024, Macron visited Mayotte after the devastation caused by cyclone Chido to reassert France’s interest in the region.

The European Union Naval Force (EUNAVFOR) regularly conducts drills in the South-West Indian Ocean Region and around the Horn of Africa to enhance Maritime Security (#MASE) under Operation Atalanta.

It is worth noting that India and France have carried out joint maritime operations in the region with India deploying its submarine hunter P-8i aircraft to Reunion. Both sides are also working together to enhance the Maritime Domain Awareness (MDA) via exchange of information between the Indian Ocean Information Fusion Centers in Gurugram and Antananarivo.

Beyond the defense cooperation, France would like to reinforce its economic ties within the region. As a matter of fact, Metropolitan France is a major tourist source market for Reunion, Mauritius and Madagascar.

The different island states are at varying stages of development with specific local conditions and thus have varying needs and priorities. For instance, Mauritius is starting to look at the recycling of #lithium batteries, while Madagascar is more interested to upgrade from mere extraction to local beneficiation of its rich mineral resources.

The developing island states also face certain common challenges such as #FoodSecurity, #ClimateChange and #HealthAccess to advanced treatments which are exacerbated by to their insularity and sparsity.

As a case in point, the ExPLOI (Exploration Plastique Ocean Indien) program under IOC aims to promote the recycling of plastics and the drive towards a #CircularEconomy, but the program will only become viable if small islands pool their resources together.

Similarly, #ClimateFinance can only scale up and become attractive, if an integrated regional approach is adopted. For instance, the SUNREF plan of the AFD racked up EUR 300 millions worth of deals over15 years in Mauritius while Madagascar estimates it needs USD 25 billion annually to implement its National Climate Mitigation and Adaptation Plan.

“As a world-renowned financial platform, Mauritius plays a key role in facilitating cross-border financial flux in Africa and elsewhere. Face with increasing competition from other financial hubs and its vulnerability to climatic risks, Mauritius is committed to align its financial ecosystem with the best global practices of sustainable finance. Therefore, the AFD is supporting such efforts via financial and technical assistance, as well as upholding a constant dialogue with stakeholders.”

AFD Mauritius DG Laetitia Habchi

One possible avenue to explore is the setting up of a regional Emissions Trading System (#ETS) to foster the trading of carbon credits between Africa and the EU. Thus, an innovative source of green financing could potentially emerge with sufficient scale and scope to make a difference.

In that regard, the AFD has already financed a study on carbon trading which recommends the consolidation of smaller markets into a larger regional platform. The Regional Carbon Exchange could be a natural evolution of the Mauritius International Finance Center (IFC) which has set its sight on a sustainable and green future.

The recent Finance in Common Conference which took place in Cape Town, South Africa, at the beginning of March 2025 also abounded in the same direction. Africa urgently needs innovative financial instruments in order to meet its climate commitments. With the withdrawal of #USAID, Africa might have to rely more on the EU in terms of its development finance needs and the green orientation is becoming a key imperative.

Therefore, it is expected that Macron’s visit to the region, along with the large delegation of French business people, will give a fresh impetus to economic partnerships while taking into consideration the particular challenges and constraints faced by island states.