An elite military unit says it has seized power in Madagascar from President Andry Rajoelina following weeks of youth-led protests in the Indian Ocean island, BBC reported.

Standing outside the presidential palace on Tuesday, CAPSAT chief Col Michael Randrianirina said the military would form a government and hold elections within two years. He also suspended key democratic institutions, like the electoral commission.

Gen Z protesters will be part of the changes because "the movement was created in the streets so we have to respect their demands" he added.

Troops and protesters have been celebrating the apparent ousting of President Rajoelina, with thousands waving flags in the capital, Antananarivo, according to BBC.