Hussain Fahumee, who served nearly three decades at the State Electric Company (STELCO), has been reassigned to a senior role at the President’s Office just a day after his dismissal as Managing Director.
The Privatization and Corporatization Board confirmed Fahumee’s departure from STELCO on Sunday and announced former MIFCO CEO Ahmed Shamah Rasheed as his replacement. By Monday, the President’s Office revealed Fahumee’s appointment as Principal Secretary to the President on Policy and Manifesto, a ministerial-rank position.
Fahumee first joined STELCO as an Account Assistant Trainee, later pursuing higher studies in the United Kingdom before returning to the company. Over the years, he held multiple roles in the Accounting Department and steadily worked his way up.
After 25 years of service, he was appointed as Managing Director in November 2023, shortly after President Dr Mohamed Muizzu’s administration took office. His leadership, however, came to an end less than a year later.
Despite his removal, Fahumee expressed gratitude to President Muizzu for entrusting him with the opportunity to lead STELCO. In a message posted on X, he also thanked his colleagues and the wider STELCO team for their support throughout his career.
"I take immense pride in all that we have achieved together and wish STELCO continued growth, success, and prosperity in the years ahead," he wrote.
Following Fahumee’s departure, the government appointed Ahmed Shamah Rasheed, previously the CEO of MIFCO, as the new Managing Director of STELCO. Shamah is expected to guide the state utility through its next phase, with a focus on stability and continued service delivery.
While Fahumee’s exit from STELCO had been rumored for several weeks, the swift move to appoint him to a senior position at the President’s Office highlights his continued relevance in public service. His new role will see him working closely with the President on policy and manifesto implementation, an area central to the administration’s governance agenda.
For STELCO, the transition marks the start of a new chapter under Shamah’s leadership, while Fahumee begins a new journey in the heart of government after 27 years dedicated to the nation’s primary electricity provider.
