National Economic Empowerment Fund (Neef) is targeting to increase the farm inputs loans from K150 billion in the 2024/2025 growing season to K300 billion in the 2025/2026 season to enhance productivity of the farmers.
Speaking on Friday when the fund distributed fertiliser to farmers in various areas in Lilongwe, Neef chief executive officer Humphrey Mdyetseni said the agricultural sector was key to turning around the economy of the country.
He said: “The transformation of this country’s economic base lies in the way Neef designs its programmes and one is to foster, nurture and accelerate the productivity of farmers, particularly the resource-challenged ones, who are cultivating about five acres and above.”
Mdyetseni said the loan programme is this year is targeting about 400 000 farmers and the fund has already reached out to over 40 000 farmers and spent over K35 billion.
“We are hopeful that by January end we will have reached more farmers who have grown maize and tobacco. Our plan is to cover more farmers that are growing other crops between February and April, including those farmers that are into irrigation farming,” he said.
Currently, a farmer with five acres can access 10 bags of fertiliser or opt for cash not exceeding K1.6 million.
Senior Chief Khongoni, whose subjects are among beneficiaries of the loans, commended the fund for introducing farmers’ loans facility.
“With the loan facility, I expect my subjects to produce more maize this year,” she said.
The 2024 Malawi Vulnerability Assessment Committee report estimated that 5.7 million people were food insecure and would need support during the lean season from October 2024 to March 2025.
The total food requirement was estimated to be 261 574 metric tonnes.
