The Privatization and Corporatization Board (PCB) has announced the appointment of Aishath Muzna, Deputy Managing Director of the State Electric Company (STELCO), to the company’s board of directors. The decision was made public on Wednesday morning.
Muzna takes over the board seat previously held by Mohamed Amir, who had been appointed in late 2023. Her appointment brings to the board a seasoned professional with nearly a quarter-century of experience in STELCO, one of the Maldives’ most vital state-owned enterprises.
A familiar figure in the company, Muzna first joined STELCO in 2000 and has since risen steadily through the ranks. She was elevated to the role of Deputy Managing Director on November 28, 2023, marking a significant milestone in her long career at the institution.
In addition to her professional achievements, Muzna is also the spouse of Hulhudhoo MP Mohamed Shahid (Shad), the Deputy Leader of the ruling People’s National Congress (PNC) parliamentary group, placing her among the prominent political families linked with key state-owned enterprises.
Muzna holds a Bachelor’s degree in Accounting and Finance from the University of East London, UK. Over the years, she has held an array of senior management positions within STELCO, including Company Secretary, Head of the Legal Department, Head of Bureau, Head of Business Development, Head of Procurement and Inventory Management, Head of Information Technology, and Head of Corporate and Legal Affairs. This extensive portfolio highlights her breadth of expertise across both administrative and technical domains of the organization.
Her elevation to the board is expected to further strengthen STELCO’s leadership team at a time when the company plays a pivotal role in ensuring reliable electricity services to the Maldives. With her institutional knowledge, academic background, and longstanding career in the utility sector, Muzna’s presence on the board is seen as an important step in aligning management and governance as the company navigates growing energy demands and modernization efforts.
