Former Maldives National Defence Force (MNDF) officer Mohamed Najah has been appointed as the new Managing Director of FENAKA Corporation.
Former Maldives National Defence Force (MNDF) officer Mohamed Najah has been appointed as the new Managing Director of FENAKA Corporation.
Najah, who is originally from Malé and served 21 years in MNDF has a masters degree in logistics.
The Privatisation and Corporatization Board (PCB) appointed Najah for the position today after Mohamed Muaz, who served as FENAKA's MD from 28th November 2024 resigned unexpectedly today. Muaz said he sees no way to improve FENAKA's condition, in his resignation letter.
Further in the letter, Muaz said that the company's situation has dipped into a state that expenses are higher than revenue, and the company is no longer able to sustainably provide its services.
While Muaz warned of FENAKA's deteriorating condition earlier this year as well, he said at the time that he sees no way forward with the state owned utility company.
In his resignation letter, Muaz said that there were many challenges in running the company during the past one year. However, his efforts to provide services to the people have not achieved the desired results, he said.
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