NEEF Issues K54 Million in Fertilizer Loans to Mchinji Farmers
NEEF officials urged beneficiaries to use the fertilizer as intended and repay loans to sustain the program for future seasons.
MCHINJI, Malawi— The National Economic Empowerment Fund disbursed 500 bags of fertilizer worth K54 million in loans to farmer clubs and individuals in Mchinji District Monday, writes Brighton Thengoliweta Chimsinde, MANA.
The program aims to help farmers contribute 40% to national farm yields in the 2024/2025 season, NEEF Head of Operations Kisa Mwelefu Kalolokesya said during the distribution.
Each 50-kilogram bag of urea fertilizer costs K108,000. NPK fertilizer will be distributed in the coming days, officials said.
"We want Malawians to have enough food," Kalolokesya said at the NEEF offices.
The initiative is part of a K150 billion agricultural loan program targeting 200,000 farmers nationwide. NEEF has disbursed K20 billion so far.
The organization aims to boost local financial stability and stabilize the Malawi Kwacha through business capital and farm input loans.
Group Village Headman Robati of Traditional Authority Zulu pledged to ensure loan repayment compliance among beneficiaries.
Irene Ulaya Shati, who chairs the Alinafe Kansanja Women Cooperative, welcomed the continued support.
"We commend NEEF for considering us again to benefit from the farm inputs loan that will enable us prosper in our farming," she said.
NEEF officials urged beneficiaries to use the fertilizer as intended and repay loans to sustain the program for future seasons.
More inflation coming.