Malawi Enterprise Development Fund (Medf) has advised people in Mzimba District to take advantage of the resumption of loan disbursement to apply for loans to venture into business.
Speaking during an awareness rally at Khosolo in Mzimba on Saturday, Medf director of credit Felix Tembo said the institution resumed loan disbursements after a pause and it is targeting more beneficiaries this financial year.
“So far, we have distributed K1.1 billion nationwide. Our target is to reach over 260 000 people by March next year with a K100 billion budget,” he said.
Tembo said the institution will also distribute K200 million per constituency from the reformed K5 billion Constituency Development Fund targeting youths and women.
“We want people in Mzimba to organise themselves into viable groups and apply. The money is there and we are ready to disburse once groups meet the requirements,” he said.
M’mbelwa District Council director of planning and development Willard Chirwa welcomed the development and urged community members to take advantage of the fund.
“This is an opportunity for our people to move away from dependency and start businesses that can create jobs here in Mzimba,” he said.
On his part, Traditional Authority Khosolo asked his subjects to use the loans for intended purposes.
Khosolo Women’s Forum chairperson Joyce Mwale said many women were waiting for the resumption of loans.
“We have business ideas but no capital. Now that Medf has resumed loan disbursements, we will form groups and apply for the loans,” she said.
