The National Economic Empowerment Fund says it has managed to disburse K100 billion in loans to Malawians.
NEEF says the loans have been disbursed between August 2020 to June 2024.
The organization’s Chief Executive Officer Humphrey Mdyetseni has told ProjectM in an interview that a big chunk of the loans have been disbursed to women and youths.
“We are celebrating a huge milestone as NEEF having reached a disbursement mark of k100 billion which I believe is remarkable,” Mdyetseni said.
Mdyetseni added that the milestone marks a significant step towards empowering the country’s communities.
“As an entity which was established to stimulate economic growth, I believe we have accomplished that and we will continue accomplishing more,” said Mdyetseni.
A breakdown of the loan sheet provided to ProjectM has also revealed that currently, the state owned organization is performing better in collecting loans.
“As you can see, our loan collection capacity has surpassed 75 percent which is historical,” He added.
Langton Jazmon, a farmer from Ngondo village in the Area of traditional authority Dzoole in Dowa has since commended NEEF, saying it has changed his life.
“I borrowed k18 million from NEEF last growing season and that money helped me to purchase farm inputs that have helped me to harvest more,” said Jazmon.
