There is insufficient information to determine the conservation status of M. jollyae, and the latest IUCN Red List assessment (2008) classified it as Data Deficient (DD). Its presence in a number of forests has been verified, but no estimates of population size are available. It occurs in the Kianjavato Forest near Ranomafana, which, although not an official government reserve, does receive some degree of local protection (Louis et al., 2006a). As of 2009 there were four individuals of this species in captivity, all in the Tsimbazaza Zoo in Antananarivo, Madagascar (E. E. Louis Jr., pers. obs.).