Chakwera launches MK350bn NEEF phase II

By Mary Makhiringa

BALAKA-(MANA)-President Lazarus Chakwera on Thursday, July 25, 2024 launched the second phase of the National Economic Empowerment Fund (NEEF) at a function held in Balaka District.

Speaking when he presided over the MK100 billion loan disbursement milestone event, Chakwera disclosed that one year into his term of office, he went in Parliament and disclosed that he has three things that he wants to do to turn Malawi’s economy around.

“There were three things that I said I will do and these were, job creation, wealth creation and food security. I am very glad to witness this function where NEEF has surpassed the target in cash disbursement to Malawians who have been in acute poverty,” he said.

He said: “I always feel bad to see people especially the youth in acute poverty, it is encouraging to see all these positive stories from beneficiaries of the K100 billion milestone that we are celebrating today.”

Chakwera, therefore, asked authorities to avoid prioritizing their relations only to benefit from the programme, instead advised that consideration should go to all regardless of status so that the nation could move from poverty to prosperity.

Board Chairperson for NEEF, Jephta Mtema outlined the successful journey that NEEF has taken over the years.

Mtema attributed the success to collaboration from various stakeholders which include funding from shareholders, who he said have contributed K103 billion.

“We cannot talk of NEEF’s success without mentioning the clients who have been taking loans for business and repaying on time. So far, we have 175, 000 clients who in turn have recruited 350, 000 Malawians creating the much needed jobs,” he said.

Mtema, therefore, thanked the collaboration that NEEF has created with various partners such as the World Bank, Malawi University of Science and Technology, TEVETA as well as commercial banks such as NBS, National and Standard who have helped in taking the organization to greater heights.

“Although we have achieved this milestone, we also have faced serious challenges which include clients failing in entrepreneurship, political interference and corruption by company staff,” he said.

Member of Parliament for Balaka Central East, Bertha Ndebere called for inclusion of people with disabilities to access the NEEF services so that they are also uplifted.

Ndebere also appealed to President Chakwera to consider rehabilitating the Chingeni – Liwonde Road which is in bad shape.