The National Economic Empowerment Fund (NEEF) says it has opened its doors to the creative and Innovation sector in Malawi in a bid to empower them economically.
The government financial lending entity says innovators are now free to apply for soft loans which the state owned organisation offers at reasonable interest rates.
The development follows remarks by President Dr Lazarus Chakwera who on Tuesday, 30 April 2024, urged the creative industry to utilise various loan facilities being offered by the organization.
Dr Chakwera was speaking during the commemoration of the World Creativity and Innovation day.
In an interview with ProjectM, NEEF spokesperson Elizabeth Hara implored innovators in the country to follow necessary steps in applying the loans.
“The first step is obviously for the individuals to show interest and apply for the loan they are comfortable with,” she said.
Hara said NEEF is ready to support innovators with loans in line with the government’s plans of empowering the county’s citizens.
“We are ready to work with them and support them. Our offices are almost everywhere in Malawi,” said Hara.
Meanwhile, Lilongwe-based innovator Innocent Mandili has expressed gratitude with the news, describing it as a motivation factor to venture into innovative and creative entrepreneurship.
Mandili said with enough funding, innovators have the potential to propel the country forward
