By Chisomo Sezi
The Malawi’s Vice President Dr. Michael Usi has emphasized the importance of loan repayment among the beneficiaries of the National Economic Empowerment Fund (NEEF) to ensure more people benefit from the initiative.
The NEEF Loans are not free handouts- Dr Usi PIC Mana
The VP made the remarks at Sandton Hall in Mzimba district on Friday, clarifying that the NEEF loans are not free handouts but crucial investments for the community's future.
"The removal of collateral was intended to ensure that even the poorest can access loans. However, repayment is essential so that other Malawians can benefit as well," said Dr Usi.
Dr Usi acknowledged that some individuals are facing financial struggle but stressed the need for responsible borrowing and repayment.
He also commended Paramount Chief Inkosi M'mbelwa V, for his ongoing efforts to address climate change and urged continued advocacy for environmental improvements in the region.
Inkosi M'mbelwa V, called on chiefs, Members of Parliament, Councilors, and community leaders to promote the message of loan repayment actively, and thanked NEEF for introducing agricultural loans, which he believes will enhance access to farming resources.
"Mzimba has vast and fertile land, and with good rains, we can feed all of Malawi. This agricultural loan initiative is a significant step forward," said Inkosi M'mbelwa.
Expressing gratitude for the Vice President's attendance, M’mbelwa, highlighted the importance of ensuring that loans reach the right individuals to foster business development within the district.
He encouraged the community to work closely with the government to enhance access to transformative financial resources.
Head of Operations for NEEF, Kisa Kalolokesya, reported that the organization has disbursed over K133 billion in loans over the past three years and 7 months, benefiting more than 182,000 individuals.
He noted that the northern region alone has received over K28 billion, with K8.3 billion allocated specifically to Mzimba.
“Mzimba serves as a model for loan repayment throughout Malawi. Currently, over 183,000 people have benefited from NEEF loans, contributing to the creation of 500,000 jobs across various businesses.
“Approximately 12,000 individuals in Mzimba have directly benefited from the K8.3 billion in NEEF loans disbursed in the district,” he said.
Davie Ng'ambi, owner of A Smile Photography and Stationery, faced significant challenges in keeping his shop afloat but through NEEF, he managed to boost his business.
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