One of the richest men in the world visits Madagascar

The Express says, ?Michael Otto, president and director general of the Otto Group based in the Federal German Republic, and considered to be one of the world?s richest men, was especially invited by Horst Köhler to come along on this trip to Madagascar. According to the Director General of the Chamber of Commerce of Hamburg, Schmidt Trenz, if Michael Otto has decided to make a personal visit to see for himself the Malagasy reality, then something here is definitely of interest to him. His company is one of the largest if not the largest to specialize in correspondence sales. His company owns subsidiaries all over the world but especially in Europe Asia and the Americas. So don?t be surprised if he sets up shop here. The Otto empire is based on three modalities, catalogue, commercial and retail and since 2001, internet based also. In twenty years, Michael Otto has taken the company founded by his father, Group Otto Versand, and made it into a multi-channel international operating on several fronts. The business group presently operates in twenty three countries without even one, so far, based in Africa.”