Land misappropriation in Nosy Be : More than 416 hectares of land belonging to SIRAMA S.A. at the center of a major judicial case

The Independent Anti-Corruption Bureau (BIANCO) informs the public about the progress of the case concerning the embezzlement and land misappropriation of more than 416 hectares of land belonging to SIRAMA S.A., located in Nosy Be – Hell-Ville. The case stems from fraudulent schemes involving emphyteutic leases and irregular transfers.

Following an in-depth investigation conducted by BIANCO since March 2025, the individuals implicated in the case were brought before the Public Prosecutor of the Anti-Corruption unit on 16 December 2025.  The state-owned company SIRAMA S.A., whose headquarters is located in Antananarivo,  has joined the proceedings as a civil party.

The alleged acts mainly occurred between 2011 and 2018 and enabled the unlawful appropriation and resale of land that had not been declassified, to the detriment of SIRAMA S.A. and the land assets of the Malagasy State. Considering their surface area, their strategic location in Nosy Be, and their subsequent development through land subdivision, the estimated value of the properties concerned amounts to several tens of billions of Ariary. Following this referral to the Public Prosecutor’s Office, the manager of MAINTSO MADAGASCAR SARL, presented as the principal instigator of the acts, was placed in pretrial detention at Antanimora Central Prison, while the former President of Council of Administration of SIRAMA S.A. was placed under judicial supervision, pending their trial.

It should be noted that the manager of MAINTSO MADAGASCAR SARL had previously  failed to appear for several BIANCO summons, even going so far as to leave  the national territory for the Union of the Comoros before returning to Madagascar on 5 December 2025. Upon his return, he made public statements portraying himself as an alleged victim of past political circumstances. BIANCO wishes to clarify that the proceedings are based exclusively on acts of land misappropriation, economic and corruption-related offenses, as well as money laundering, and are entirely independent of any political context or consideration.

BIANCO reaffirms its ongoing commitment to serve as a safeguard for the protection of public assets, to firmly combat corruption and land misappropriation, and to conduct its investigations in full respect of the rights of the defense and the presumption of innocence, until the final conclusion of the judicial process. It is important to note that the lands subject to misappropriation have already been placed under judicial seizure, initiated by BIANCO, as part of the effective implementation of mechanisms for the recovery of illicit assets. These precautionary measures aim to preserve the misappropriated assets, prevent any subsequent dissipation or resale, and enable their restitution to the Malagasy State, with a view to returning them to the legitimate state-owned entity, SIRAMA S.A., in accordance with judicial decisions.