By Twink Jones Gadama
The National Economic Empowerment Fund (NEEF) has advised young beneficiaries to make the most of their loans by investing in agricultural productivity and income-generating activities.
During an orientation event at Robins Park in Blantyre, NEEF CEO Humphrey Mdyetseni emphasized the importance of using loans wisely, particularly in agricultural irrigation, to increase crop yields and improve food security.
Mdyetseni’s sentiments were echoed by Andrew Mpololo, NEEF’s Southern Region Coordinator, who highlighted that effective use of loans can significantly contribute to Malawi’s economic growth and development while improving the livelihoods of the youth.
By investing in agriculture, young beneficiaries can enhance their income-generating potential and contribute to the country’s food security.
NEEF has been instrumental in empowering Malawians economically, with a focus on youths and women.
The fund has disbursed K18.8 billion to 6,669 groups and 461 individual clients, with women and youths dominating the beneficiaries’ list.
To ensure the success of the loan program, NEEF has partnered with institutions like the Technical, Entrepreneurial and Vocational Education Training Authority (TEVETA) to provide business capital for young entrepreneurs.
The initiative aligns with the government’s efforts to support the agricultural sector, as evident in the allocation of K150 billion to the NEEF Farm Input Loan Programme.
This program aims to promote commercial farming and improve food security under the Agriculture Commercialisation pillar of Malawi 2063.
By wisely utilizing NEEF loans, young beneficiaries can unlock their potential and contribute to Malawi’s economic growth and development.
