Managing Director of Fenaka Corporation Ahmed Saeed Mohamed has handed in his resignation.
His resignation comes among many who are retiring as the current administration is nearing its end on November 17.
At the time of Saeed's resignation, the Anti Corruption Commission (ACC) is investigating seventy five cases against Fenaka. The ACC has previously appealed to the President's Office to take necessary action against the corporation. However, no action taken has been announced to date.
While government companies have built up large amounts of debt, Fenaka is noted as the company with the highest amount of debt in its name to date, with the amount exceeding one billion.
Fenaka Managing Director Saeed.
Sign In