Hussain Sham Adam has been officially appointed as the Chairperson of Fenaka Corporation.

Hussain Sham Adam Appointed as Chairperson of Fenaka Corporation
Malé, Maldives — July 2025
In a notable leadership development, Hussain Sham Adam has been appointed as the Chairperson of Fenaka Corporation Limited, one of the largest state-owned enterprises (SOEs) in the Maldives. His appointment comes amid ongoing reforms to enhance operational efficiency, transparency, and governance across key public sector entities.
With a diverse professional background in business and public administration, Hussain Sham Adam is expected to bring strategic insight and strong leadership to Fenaka, which plays a crucial role in delivering utility services—particularly electricity, water, and sewerage—to islands across the country.
This leadership transition marks a significant chapter for Fenaka, especially as it continues to adapt following its administrative restructuring under the State Trading Organization (STO) earlier this year. As Chairperson, Sham Adam will oversee policy direction, institutional reform, and corporate strategy, aiming to stabilize the corporation’s financial and operational challenges.
Fenaka Corporation has faced increasing scrutiny over the years due to concerns related to financial mismanagement, corporate debt, and project inefficiencies. With Sham Adam now at the helm, expectations are high that he will push for more accountability, long-term planning, and renewed public trust.
His appointment also aligns with the Maldivian government’s broader efforts to professionalize leadership within SOEs—ensuring that boards are managed by individuals with proven experience in both governance and national development.

What’s Next for Fenaka?
Under Sham Adam’s leadership, key focus areas for the corporation are expected to include:

Financial restructuring and debt management
Improved island-level service delivery
Sustainable energy investments
Digitization and system-wide transparency

The government and STO have both reiterated the importance of transforming Fenaka into a high-performance SOE, particularly given its strategic importance in rural infrastructure development.

Conclusion:
Hussain Sham Adam’s appointment signals a renewed commitment to institutional reform and public accountability. With a legacy of service and leadership, his vision for Fenaka will be closely watched by policymakers, the public, and development partners alike.