Former Fenaka MD Muaz appointed as MWSC's DMD
Muaz Mohamed Rasheed, the former Managing Director of Fenaka Corporation, has been appointed as the Deputy Managing Director of the Male' Water and Sewerage Company (MWSC). Muaz resigned from his position at Fenaka in December 2024, citing that the utility provider had reached a state where it could no longer provide sustainable services.
Former Fenaka Corporation Managing Director Muaz Mohamed Rasheed has been appointed as the Deputy Managing Director of the Male' Water and Sewerage Company (MWSC). | RaajjeMV
Muaz Mohamed Rasheed, who recently resigned as the Managing Director of Fenaka Corporation, has been appointed as the Deputy Managing Director of the state-owned Male' Water and Sewerage Company (MWSC).
Muaz Mohamed Rasheed, who served as the first Managing Director of Fenaka Corporation under President Dr. Mohamed Muizzu’s administration, resigned from the post on December 23, 2024.
In his resignation letter to President Muizzu, Muaz stated that he stepped down from his position as Managing Director of Fenaka because the company’s operational costs have exceeded its revenue, leaving it in a state where services can no longer be provided sustainably.
He further noted that his decision to resign was also influenced by the lack of a clear path forward to rectify these systemic issues while remaining in the post.
Furthermore, Muaz stated in his letter that despite sharing comprehensive recovery plans to rescue Fenaka with the relevant authorities, no progress or viable solutions have materialized.
While rumors circulated at the time suggesting Muaz resigned at the government's request, he has also been facing serious allegations of corruption.
