Thousands of spectators were still trying to get into the stadium through the only entrance.
Two of those hurt are in a critical condition in the capital, Antananarivo.
Many people had been queuing up since the early hours of the morning for a 14:30 (12:30 GMT) kick-off at the Stade Municipal de Mahamasina.
French radio station RFI reported there was a rush to enter the stadium when the gates were opened.
"We were waiting in the queue from six o'clock in the morning. We were metres from the gate when the stampede took place. I was trampled on the back, but my backpack cushioned the impact," Rivo Raberisaona told the AFP news agency.
"I do not understand why there was only one gate open into the stadium when it's such a big match," said Henintsoa Mialy Harizafy, whose uncle was injured in the stampede.
The game, featuring stars such as Liverpool forward Sadio Mané, was played as planned in front of a capacity crowd and ended in a 2-2 draw.
Stampedes at stadiums in Africa occur on a regular basis, often due to poor crowd control in over-crowded stadiums.
A stadium stampede in Angola killed at least 17 people in February 2017.
In July 2017, eight people - including seven children - died in a stampede at a match in Malawi.