An audit of the state-owned company Fanalamanga has uncovered 8.5 billion Ariary in irregular expenditures over the past five years. The new management has pledged to clean up the company’s operations.
Koutri Tombotsoa Sahadli, the interim Director General, presented the key findings during an interview on the national television channel TVM last weekend. The audit identified several financial anomalies, including 450 million Ariary in expenses lacking supporting documents and 340 million Ariary in check payments without justification. Additionally, 775 million Ariary is reported missing from the company’s cash reserves, and 230 million Ariary was allegedly withdrawn incrementally over three months, bypassing standard procedures.
The audit also highlighted nearly 5 billion Ariary spent on football-related activities over five years, with 1.5 billion Ariary spent in 2025 alone, including 20 million Ariary in staff bonuses. Furthermore, Fanalamanga participated in a tender for pylon construction, an activity outside its core mandate of forest management and reforestation.
The company is also facing challenges in collecting debts from operators and reports payment delays for daily forest workers. Environmentally, nearly 200,000 hectares of forest require urgent intervention due to degradation, while several company vehicles and equipment have reportedly gone missing. The new management aims to strengthen internal controls and preserve the company’s assets.
Captured & Published at: 2026-08-12 06:09:08 (Madagascar Local Time EAT)
Original Source: https://www.lexpress.mg/2026/08/fanalamanga-laudit-revele-85-milliards.html
