Fenaka Corporation Limited is targeting the completion of a substantial portfolio of development projects by the end of this year, according to Managing Director Mohamed Afeef Hussain. In an interview with PSM News, Afeef outlined initiatives to fortify executive management and implement strategic frameworks aimed at rehabilitating the utility provider’s operational standing.
Upon assuming his role, Afeef discovered that the corporation’s operational health was at an "exceptionally low tier". Preexisting instability within the corporate financial system introduced significant hurdles to the execution of nationwide developmental initiatives. The company is now conducting systemic evaluations to pinpoint necessary operational shifts and implement reforms to its corporate architecture.
Beyond its foundational mandate to supply electricity, water, and sewerage utilities, the enterprise has assumed a substantial portfolio of Public Sector Investment Program initiatives. The corporation is managing 48 projects across 35 islands, Afeef reported. Operations on six islands have reached completion, while construction on an additional six is advancing at an accelerated pace.
Contractual obligations further encompass regional police posts, educational facilities, and hospital buildings. Afeef reaffirmed the organisation’s commitment to finalising these ventures, asserting the firm is pursuing every avenue to "fundamentally restore and retain the trust of the public".
"We anticipate concluding the operational work on certain projects within the next three to four months," Afeef stated. "Another portion of the initiatives will be finalised as this year draws to a close. Additionally, due to the specific nature of certain projects, some may require up to a year of continued work. However, we are actively striving to determine whether the vast majority of these endeavours can be fully completed by the end of this year or by the conclusion of January of next year."
The corporation faces logistical obstacles, including difficulties in procuring essential construction materials and recruiting qualified personnel to the outer atolls. Despite these challenges, the firm remains focused on finalising these initiatives to solidify public trust.