Madagascar: 4,500 Employees of the Sodiat Group Led by Mamy Ravatomanga Face Technical Unemployment Soon

In a challenging turn of events for the 4,500 employees of the Sodiat Group, led by Malagasy businessman Mamy Ravatomanga, they will soon be placed on technical unemployment. This announcement was made in a statement reported on Thursday, December 11, by the online media Midi Madagasikara.

The reason behind this situation is the freezing of Mamy Ravatomanga's bank accounts. He was arrested in Mauritius on October 24 by the Financial Crimes Commission on suspicions of money laundering. Since that date, he has remained in detention in Mauritius, which has hindered the Sodiat Group's ability to pay its employees' salaries.

Founded in 1990, the Sodiat holding company is chaired by Mamy Ravatomanga and operates in various sectors including logistics, agriculture, media, press, and real estate. The group initially began its activities by transporting fuel in tank trucks between Tamatave and other Malagasy cities.

Close to the ousted president Andry Rajoelina, Mamy Ravatomanga was considered one of his advisors and was often referred to as the "Shadow President." Rajoelina was overthrown last October by military personnel from the Administrative and Technical Services Army Corps (CAPSAT).

On November 6, 2025, Mamy Ravatomanga was charged in Port Louis under a provisional accusation of conspiracy, along with two charges of money laundering.