FENAKA Managing Director Afeef dismissed as government moves to abolish corporation

Mohammed Afeef, the Managing Director of FENAKA Corporation, has been dismissed from that post today, as the government moves to abolish the state-owned company. The Chairman of the Privatization and Corporatization Board (PCB), Mohamed Nizar, told Sun that Afeef had been dismissed from the post of MD of FENAKA. Nizar also said that Afeef was not dismissed for any specific reason. President Dr. Mohamed Muizzu announced at a meeting with journalists held at the Office of the President on 7 September that a decision had been made to abolish FENAKA Corporation Limited and the Road Development Corporation (RDC). After FENAKA is abolished, it has been decided to hand over the responsibilities of the company to STELCO. Afeef was dismissed from the post while work was underway to transfer FENAKA's tasks to STELCO. Afeef was appointed to the post of Managing Director of FENAKA on 27 April this year. He is the third MD appointed to FENAKA by this government. When Muaz Mohamed Rasheed, the first MD appointed to FENAKA, submitted his resignation of his own accord, Mohamed Najah was appointed to that post on 23 December 2024. Afeef is a person who has served the state for more than 40 years.