Government Plans 51% Stake in Dhiraagu and Full Ownership of MWSC

The government currently holds 41.8 percent of Dhiraagu, while Bahrain’s Batelco owns 52 percent and public shareholders hold the remaining 6.2 percent. Reaching the proposed target would require the government to increase its holding by 9.2 percentage points.

Mohamed Yaeesh

07 September 2026, 10:17

The government has begun work to acquire a controlling 51 percent stake in Dhiraagu and take full ownership of the Malé Water and Sewerage Company (MWSC), President Dr. Mohamed Muizzu has announced following a Cabinet decision.

Speaking at the President’s Office, the President said the planned acquisitions would increase state ownership in telecommunications and water services, which he described as important national assets.

The President said a controlling stake would support the public interest and the development of the Maldivian economy. He framed the decision as restoring government majority ownership of the telecommunications company.

For MWSC, the government intends to purchase the 20 percent stake held by Japan’s Hitachi, bringing its ownership from 80 percent to 100 percent.

The announcements mark the start of the acquisition process. No purchase prices, financing arrangements or completion dates were disclosed, and the President did not specify which shareholders would sell the additional Dhiraagu shares.

The Ministry of Finance and other relevant authorities are expected to release further details in the coming days. Those details will clarify the terms and financial implications of the proposed transactions.

Government Plans 51% Stake in Dhiraagu and Full Ownership of MWSC

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