MTCC’s Saudee takes over running of RDC after Nazeem dismissed

Ibrahim Nazeem was dismissed as the managing director of Road Development Corporation (RDC) on Wednesday, with Maldives Transport and Contracting Company (MTCC)’s managing director Ahmed Saudee appointed as RDC’s acting head.

The Privatization and Corporatization Board (PCB) confirmed the decision on Thursday.

ރޯޑް ޑިވެލޮޕްމަންޓް ކޯޕަރޭޝަންގެ މެނޭޖިންގ ޑިރެކްޓަރުގެ މަޤާމުންނާއި، ޑިރެކްޓަރުންގެ ބޯޑުން، އިބްރާޙިމް ނަޒީމް ވަކިކޮށް، އެކްޓިންގ މެނޭޖިންގ ޑިރެކްޓަރުގެ މަޤާމަށް ޑީސީޕީ (ރިޓަޔާޑް) އަޙުމަދު ސަޢުދީ ވަނީ 14 އޮކްޓޯބަރު 2026 އިން ފެށިގެން އައްޔަނުކޮށްފައި.

— Privatization & Corporatization Board (@pcb_gov) October 15, 2026

The move comes after President Dr. Mohmed Muizzu announced on September 7 the decision to merge RDC into MTCC – a move he said was part of his administration’s cost cutting measures.

Meanwhile, Mohamed Afeef, the managing director of Fenaka Corporation, was also dismissed on Wednesday. Fenaka Corporation is also set to be merged into State Electric Company (STELCO).

PCB’s president Mohamed Nizar confirmed to Sun on Thursday that the move was linked to the merger plan.

Fenaka is a 100-percent state-owned utility company established in 2012 by caretaker president Dr. Mohamed Waheed Hassan Manik.

The company is heavily in debt, and has been plagued with allegations of corruption throughout different Maldivian administrations.

A special audit report publicized by the Auditor General’s Office (AGO) last year flagged MVR 2.2 billion in financial irregularities by Fenaka between 2021 and 2023.

Meanwhile, the RDC, established during former president Abdulla Yameen Abdul Gayoom’s administration, had also been plagued for years with similar allegations of corruption.