National Economic Empowerment Fund (Neef) head of operations Wakisa Kalolokesya says they plan to disburse K70 billion as Farm Inputs Loans targeting 70 000 farmers.
Speaking on Monday in Karonga during a Neef engagement with Karonga Agricultural Development Division (ADD) officers, he said they are working with smallholder farmers to enable them to embrace farming as business.
“We want to give them loans that will elevate them from subsistence farming to commercial farming,” said Kalolokesya.
He said the intervention will aid the achievement of a minimum national food security by adding an approximate of 1.4 million metric tonnes to the national production
“Neef intends to offer loans to farmers’ groups or individuals who own not less than five acres with a minimum of K1 million and a maximum of K250 million to those who own mega farms,” said Kalolokesya.
He said they have partnered with Cooperative Insurance Company and the Ministry of Agriculture to ensure effective implementation of the programme.
Cooperative Insurance Company customer executive officer Jimmy Nkhata said they are working with Neef to help farmers know about the loan policies.
Karonga ADD senior agribusiness officer Davie Makavalo said they will approve land size and provide estimates to match Neef’s expectation.
“We will register farmers according to extension planning areas. This will assist Neef to trace every loan applicant,” he said.
The disbursement process for 2024/25 is in progress and it is expected to end in December
