Regulatory Alerts2026-01-14
Decision No. 005/2025-CSBF on the Withdrawal of Approval for VOLA MAHASOA S.A
The Commission for Banking and Financial Supervision (CSBF) of Madagascar has withdrawn the microfinance approval and automatically dissolved VOLA MAHASOA S.A. due to persistent financial difficulties, unheeded recapitalization injunctions, and clear insolvency following the cessation of lending operations. The decision mandates immediate liquidation of assets and liabilities under a court-appointed liquidator, while prohibiting the company from granting new loans, collecting deposits, or undertaking transactions that could worsen its financial position without prior CSBF approval. Furthermore, the institution remains under CSBF supervisory control throughout liquidation, with its credit institution registration to be formally cancelled upon closure.