State owned loan services provider, National Economic Empowerment Fund (NEEF) has set aside K150 billion to be disbursed to farmers who are looking for a financial boost in the 2024/2025 farming season.
The funds will be disbursed to over 400,000 farmers under a loan facility dubbed, “Farm Input Loans”.
NEEF Chief Executive Officer, Humphrey Mdyetseni has told ProjectM in an exclusive interview that the funds have been set aside to help the country address perennial hunger challenges.
“We believe giving farmers farm input loans may act as a catalyst for the country’s dream of dealing with hunger challenges rocking the country,” said Mdyetseni.
The NEEF Chief has since advised farmers seeking to obtain the loan facility to seek advice from the nearest NEEF loan offices.
“Let me make it clear here that these loans are open to anyone who has satisfied all the required terms and conditions,” said Mdyetseni.
Among others, farmers seeking to obtain the farm input loan facility are supposed to show proof of an existence of land for farming and proof of purchase of farm inputs once the loan has been disbursed.
“In fact, our loan officers are on the ground verifying with those that have already been provided with the loans, making sure that the funds are being used for the intended purpose,” added Mdyetseni.
Meanwhile, Louis Bvumbwe, a farmer based in Traditional Authority Kwataine in Ntcheu District and a beneficiary of the loan facility, has described it as a game-changer.
“I would like to assure doubting Thomases out there that I am a beneficiary of this loan facility as NEEF has indeed given me K5 million to purchase farm inputs,” said Bvumbwe.
