There is hope of improved livelihood among one million people as National Economic Empowerment (NEEF) is set to disburse K350 billion.
Speaking when launching the second phase of NEEF strategic plan in Balaka, President Dr Lazarus Chakwera said NEEF is there for wealth creation, job creation and food security.
“If there is one thing that breaks my heart is poverty among people in the rural areas and the youth. This is why the 2063 vision was established so that the country can boost its economy and promote independence in the nation,” he said.
Minister of Finance Simplex Chithyola said the loan has doubled due to successful loan disbursement in the first phase in the past three years.
“We are witnessing the fruits of the NEEF. This is why the funds have doubled. This will boost the livelihoods of smallholder farmers and small scale operators, thereby, boosting the country’s economy,” he said.
In his remarks, Humphrey Mdyetseni, NEEF Chief Executive Officer said the percent of people who repaid their loans rose from 18 percent to 80 percent.
He added that the next phase will also accommodate beneficiaries who failed to access it due to lack of collateral.
One hundred and seven-five thousand benefitted from K75 billion while one million people will benefit from K350 billion across the country.
