State owned National Economic Empowerment Fund (NEEF) says it will start using Area Development Committees (ADCs) and Village Development Committees (VDCs) to identify small scale business operators and entreprenuers who are more eligible for various loans.
NEEF says through the initiative, entreprenuers from hard-to-reach areas will now be able to appreciate various products being offered by the organization.
NEEF Chief Executive Officer Humphrey Mdyetseni has made the remarks Thursday in Dowa during an engagement with community leaders from Ntchisi district.
Mdyetseni told ProjectM on the sidelines of the meeting that through the engagement meetings, the organization is hoping to strengthen fund operations.
“We are hoping to become an organization that entreprenuers can look up to in terms of funds for boosting their businesses and to achieve that we need to strengthen our relationship with Community leaders like them,” Mdyetseni said.
During the function, the NEEF C.E.O underscored the importance of using local structures to identify loan beneficiaries, saying they are better placed to identify real from fake entreprenuers.
“These are the same people who will also help us track down loan defaulters if the need arises,” said Mdyetseni.
Among others, NEEF reaffirmed it’s desire to continue disbursing loans to entreprenuers from Ntchisi district.
The gathering drew the attention of senior chiefs, councillors, Traditional Authorities and ADC members from Ntchisi district.
In his remarks, Group Village Head Kasangadzi commended NEEF for reviving the spirit of entreprenuership in the country, saying he is one of beneficiaries who has benefited a lot from loans offered by the Organization.
“I borrowed k60 million from NEEF which helped me a lot to set up a farm last growing season,” said GVH Kasangadzi.
