ABSTRACT Purpose: This study investigates the operational efficacy of the Vondron’Olona Ifotony (VOI) Mitsinjo in Ranomafana, Madagascar, examining the dialectic between decentralized environmental mandates and the socio-economic realities of grassroots communities. While the Transfer of Natural Resource Management (TGRN) policy established in 1996 provides a legal framework for community-led conservation, its practical implementation remains inconsistent. Methodology: Utilizing a mixed-methods approach, the research engaged 120 respondents across four hamlets (Ambatolahy, Ambodikimba, Ambodiamontana, and Tsararano). Data were gathered through structured household surveys and semi-structured interviews with institutional stakeholders, subsequently analyzed using XLSTAT to evaluate the correlation between socio-economic stability and governance engagement. Findings: Results indicate that while 77% of the population demonstrates a conceptual commitment to conservation, operational success is hindered by internal structural deficits—primarily financial insolvency and technical skill gaps—and external legal-political volatility. A critical "interest-dependency" gap was identified: households facing extreme poverty and lack of stable employment are more likely to disengage from formal governance or resort to clandestine resource exploitation. Furthermore, the centralization of decision-making and the marginalization of specific social strata, particularly women, undermine the social capital necessary for collective action. Conclusion: The study confirms that community-led governance can only function as a legitimate guarantor of biodiversity if natural resource management is robustly integrated with sustainable livelihood strategies. Future interventions must prioritize financial autonomy and the modernization of local governance through a synthesis of traditional social harmony (Fihavanana) and cross-sectoral collaboration. Keywords: Limits, community governance, natural resources, support, social and environmental justice.