Rtd Major Mohamed Najah Appointed Managing Director of FENAKA
Rtd Major Mohamed Najah has been appointed as the new Managing Director of the state-owned utility company FENAKA, following the resignation of former Managing Director Muaz earlier today.
The Privatisation and Corporatisation Board of Maldives announced Najah’s appointment in a post on X.
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ފެނަކަ ކޯޕަރޭޝަން ލިމިޓެޑްގެ ޑިރެކްޓަރުންގެ ބޯޑުގެ މެންބަރުކަމަށާއި މެނޭޖިންގ ޑިރެކްޓަރ ކަމުގެ މަޤާމަށް ހ.ޔެލޯރޯޒް 2، މޭޖަރ (ރިޓަޔަރޑް) މުޙައްމަދު ނަޖާޙް މިއަދު ވަނީ އައްޔަންކޮށްފަ އެވެ .— Privatization & Corporatization Board (@pcb_gov) December 23, 2024
Najah, a seasoned army officer with over 21 years of service, holds a master’s degree in logistics management. His military and academic background is expected to bring a structured and strategic approach to the leadership of FENAKA.
Muaz tendered his resignation earlier in the day, citing overwhelming financial challenges and difficulties in sustaining the company’s operations. In his resignation letter, he pointed to mounting debt, operational inefficiencies, and insufficient institutional support as major obstacles to progress.
He also highlighted frustrations over the lack of cooperation from relevant institutions in implementing plans to streamline operations and achieve financial stability. According to Muaz, the company is often required to employ more staff than it needs, further straining resources.
Muaz’s letter also referenced unprecedented delays in salary payments during October and November, which he claimed were without precedent in the company’s history.
Najah’s appointment comes at a critical juncture for FENAKA, as the utility provider faces calls for reform to address its financial and operational difficulties.
