Over 100, 000 people benefit from K42 billion NEEF loans

Neef began disbursing loans in February 2021.

Matilda Chiwaya

Malawi: National Economic Empowerment Forum (NEEF), 113, 000 people have received loans totalling K42 billion. By 2024, Neef intends to distribute $75 billion to 300, 000 Malawians.

"We had some officials shareholders who happen to be government and we wanted the shareholders to understand how the loans are performing on the ground and the impact the loans are registering in the lives of people," Neef spokesperson Whytone Kapasule told reporters during a tour in a few selected districts in the central region recently.

“We have gone to a number of areas, and since we began disbursing loans in February 2021, we have disbursed approximately 42 billion kwacha to 113 Malawians across the country.”

Kapasule also stated that the money is a significant injection into people's and the economy's capital and that he hopes the money has stimulated a number of businesses that people are running.

Matilda Chiwaya, 51, is a mother of four who lives in Dowa central at T/A Dzoole B. She claims that the NEEF loan has helped her grocery business so much that she was able to purchase 400 bags of maize to sell.

Neef began disbursing loans in February 2021 and had already disbursed approximately K42 billion to 113, 000 Malawians by August 2022.