ACC and STELCO Partner to Combat Corruption in State-Owned Enterprises

The Anti-Corruption Commission (ACC) and State Electric Company Limited (STELCO) have signed a memorandum of understanding (MoU) aimed at eradicating corrupt practices and fostering a culture of integrity within the state-owned utility provider. The agreement was formalized by ACC President Adam Shamil and STELCO Managing Director Dr. Ali Azwar. The partnership establishes a structured framework for the two entities to collaborate on preventing corruption and enhancing transparency within state-owned enterprises (SOEs). Central to the MoU is the integration of the ACC's technical expertise into STELCO's daily operations. This includes the implementation of joint initiatives, specialized training programs for employees, and the organization of workshops and seminars designed to strengthen professional ethics and integrity across the company's workforce. To ensure accountability, STELCO has committed to streamlining the delivery of critical documents and information required for ACC investigations. The utility company has also pledged full cooperation in making employees available for questioning and investigative processes as needed. Furthermore, STELCO will now incorporate the ACC's guidance when developing internal company policies. The goal is to establish robust anti-corruption safeguards and proactively reduce institutional risks through a rigorous review of policy frameworks. By facilitating the exchange of technical expertise and resources, both institutions aim to create a more resilient defense against financial irregularities. Both the ACC and STELCO expressed confidence that this strategic partnership will significantly reinforce anti-corruption initiatives and set a precedent for integrity within other state-owned entities in the Maldives.