Mohamed Afeef Hussain was dismissed as managing director of the state-owned Fenaka Corporation on Wednesday, 14 October, the Privatization and Corporatization Board (PCB) in Malé confirmed, as the government prepares to dissolve the company.
PCB President Mohamed Nizar confirmed Afeef's removal on Wednesday and said the dismissal was not prompted by any specific reason. No other reason for the decision has been made public.
Afeef was appointed Fenaka's managing director on 27 April this year and is the third person to lead the company under the current administration. Before him, the post was held by Muaz Mohamed Rasheed, who resigned, and Mohamed Najah, who was appointed on 23 December 2024. Muaz now serves as deputy managing director of Male' Water and Sewerage Company (MWSC). Afeef has served the state for more than 40 years.
President Dr Mohamed Muizzu announced at a press conference at the President's Office on 7 September that the government had decided to dissolve Fenaka, along with the Road Development Corporation (RDC), and that Fenaka's work would be carried out under the supervision of STELCO. The President said technical experts had advised that Fenaka could not be run properly in a sustainable way, and that a report by the Auditor General's Office revealed abuses committed in Fenaka's name under the previous administration.
During Afeef's tenure, Fenaka carried out much of the government's work to downsize the company, including cutting staff numbers to lower costs and surveying the condition of island powerhouses. As part of wider measures to reduce state spending, the government has also decided to cut the workforce of state-owned enterprises by 33 percent. The opposition Maldivian Democratic Party (MDP) has said most of the staff dismissed from Fenaka were affiliated with the party.
The transfer of Fenaka's operations to STELCO is under way but has not been finalised. No successor to Afeef had been named by Wednesday night, and no date has been given for when the dissolution will be complete.