Loan beneficiaries of the National Economic Empowerment Fund Limited (Neef) Tiyanjane Women’s group and Tiyanjane Youth in Machinga have jointly applied for a K39.5 million loan to boost their businesses.
Chairperson of Tiyanjane Women’s group Junie Kanjoka has told ProjectM that after successfully repaying their first and second loans amounting to K9.5 million the women business group is hoping to secure K20 million.
She said: “Neef has been our trusted partner in our growth.Our group is doing well in loan repayment and must be considered for more funding to propel us towards success in the dynamic world of business.
Aged 58, Kanjoka said with the help from the finance institution the group members have been able to engage in businesses that keep them financially afloat and in turn giving them a sense of dignity and respect as they no longer rely solely on their husbands to provide for their households.
”In reality, being financially independent matters more than relying on your spouse’s income. Most women in the country are stuck in bad situations because they lack Financial empowerment. As an individual my life has really transformed because apart from running my business I have managed to buy two cows at K220, 000 each, paying school fees for my granddaughter in secondary school, bought a land for business purposes and many more.”
However, team leader for Tiyanjane Youth group Chrissy Jafale, aged 29 says after paying back the K8 million loan which they obtained from Neef last year, her group which consists of eight members has now applied for another funding to the tune of K19.5 million.
”I am encouraging young women out there to obtain loans from Neef and venture into entrepreneurship to empower themselves and live in self-employment. With Neef loans, things have changed for the better because I am financially independent, managed to build a big house and can be called a boss lady,” she proudly said.
On her part, Neef spokesperson Elizabeth Paul has commended the two groups for honouring the conditions of the loans describing them as genuine clients.
She adds: “We are urging other beneficiaries to emulate efforts by these Nayuchi border-based groups so that the programme should have an impact on Malawians. In Rumphi, we managed to donate desks because the district was rated at 95 percent as best in repayment of loans as compared to other districts and we might also do another activity in Machinga as a token of appreciation.
“To all groups that have obtained Neef loans twice or above and are able to pay back the money in the nick of time we normally give them another opportunity without hesitation.”
Established in 2021 the two groups have in total 17 members
