Thursday 20th Jun 2024
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Fenaka

Major Challenges to Small Businesses as Fenaka Fails to Compensate

There has been an increasing number of complaints as small businesses supplying and conducting projects for Fenaka have not been provided compensation.
Operators of a small supply firm have shared purchase orders from Fenaka and numerous invoices with Dhiyares. Fenaka has not paid for goods worth over MVR 2 million from November 2020 to July 2021.
The owner of the company claimed that it has become increasingly difficult to pay employee salaries. They revealed that as the situation deteriorated, Fenaka has neglected to provide any support, and there have been rumors of the company being nearly bankrupt.
Another company facing the same issue reported that they have not received payment of goods supplied since February this year. The owner claimed that the company is now on the verge of closing down.
Companies conducting Fenaka’s nationwide projects have also complained of not receiving payment. Speaking to Dhiyares, the operator of a small construction firm highlighted that the firm has been complaining to Fenaka about the lack of payment for three months.
According to Fenaka’s suppliers, Fenaka would refuse to work with companies that lodged complaints regarding payment elsewhere. There is no other place to go to obtain what they are owed, said the source.
Dhiyares has previously reported on the issue following complaints and invoices shared by these companies. Fenaka has falsified the accusations.
Fenaka has been reiterating that it has been compensating its contractors on time. However, judging by the documents and statements from the small firms received by Dhiyares, Fenaka owes millions to several businesses.