A financial audit at Fanalamanga has revealed 8.5 billion ariary in irregular spending over the past five years. Interim General Director Koutri Tombotsoa Sahadli presented the key findings on national television TVM last weekend.

Several financial management anomalies were identified. These include 450 million ariary in expenses lacking supporting documentation and 340 million ariary in payments made by cheque without justifying documents. The audit also reports the disappearance of 775 million ariary from the cash register. Additionally, 230 million ariary were reportedly withdrawn gradually over a three-month period, outside normal procedures.

Football-related expenses are also highlighted. Nearly five billion ariary were reportedly spent on this activity over five years. In 2025, these expenses reached 1.5 billion ariary, including 20 million ariary in bonuses distributed to several staff members.

The audit also notes Fanalamanga's participation in a tender for pylon construction, an activity that does not directly align with its core missions of forest management and reforestation.

Urgent intervention needed

The company's financial situation is further strained by collection difficulties from certain operators. Payment delays also affect daily workers assigned to forestry operations.

Environmentally, approximately 200,000 hectares of forest require urgent intervention due to degradation. Several equipment and vehicles belonging to Fanalamanga have also gone missing.

In response to these findings, the new management intends to improve the company's financial governance, strengthen internal controls, enhance financial monitoring, and preserve Fanalamanga's assets.