Hussain Fahmy, the Managing Director of State Electric Company Limited (STELCO), has been honored with the Asia’s Most Inspiring Executives award at the 2024 Asia Corporate Excellence and Sustainability (ACES) Awards. The accolade recognizes Fahmy’s exemplary leadership, which has propelled STELCO to new heights in operational efficiency, sustainability, and innovation within the Maldivian energy sector.
Transforming STELCO and Leading with Vision
STELCO, established to provide reliable electricity services to the Maldives, operates as the primary energy provider for the nation. Serving over 60,000 customers across numerous islands, the company plays a critical role in national development through its extensive energy infrastructure. Fahmy, who began his career at STELCO as an Account Assistant Trainee in 1998, has risen to the helm through unwavering dedication and strategic foresight.
With over 26 years of experience in the energy sector, Fahmy has combined his technical expertise and business acumen to address the challenges of urbanization and growing energy demands. He holds master’s degrees in Accountancy from the University of Aberdeen and in Business Administration from the University of East London, bringing a wealth of knowledge to his leadership role.
Driving Innovation and Sustainability
Under Fahmy’s stewardship, STELCO has embraced renewable energy and sustainability initiatives. He spearheaded the integration of solar photovoltaic systems and Battery Energy Storage Systems (BESS), reducing dependence on fossil fuels and promoting environmental sustainability. His initiatives to introduce electric motorcycles and EV charging infrastructure have positioned STELCO as a leader in the Maldives’ transition to clean energy.
Fahmy has also championed technological advancements, including the adoption of Advanced Metering Infrastructure (AMI) for real-time energy monitoring and management. Plans to establish a modern business center will showcase innovative energy solutions like solar panels and electric vehicles, reflecting Fahmy’s commitment to enhancing customer experiences.
A People-Centered Approach
Fahmy’s leadership is marked by his focus on employee welfare and organizational culture. The completion of the STELCO Housing Project, providing 360 apartments to employees, stands out as a landmark achievement. By avoiding traditional bank loans, the initiative eased financial burdens on staff, aligning corporate goals with employee well-being.
His efforts to foster a culture of collaboration, adaptability, and transparency have strengthened STELCO as a cohesive organization. Fahmy’s emphasis on professional development ensures employees are engaged and equipped to contribute to the company’s strategic objectives.
Recognition on the Asian Stage
The ACES Awards, regarded as one of Asia’s most prestigious corporate accolades, recognizes leaders who have made significant contributions to their industries. Hussain Fahmy’s inclusion in this elite group underscores his success in balancing operational demands with long-term sustainability goals while aligning STELCO with the Maldives’ national objectives.
This award is a testament to Fahmy’s visionary leadership, which has not only transformed STELCO but also advanced the energy sector in the Maldives. His work reflects a commitment to innovation, sustainability, and the well-being of both employees and customers, setting a benchmark for corporate leadership across Asia.
