National Economic Empowerment Fund (Neef) says it is targeting to reach out to at least 30 000 to 40 000 beneficiaries in the 2024/25 financial year.
Neef chief executive officer Humphrey Mdyetseni disclosed this on Sunday in Blantyre during the Southern Region faith leaders’ orientation on how to access Neef loans.
He said the organisation, which has disbursed K98 billion since 2021, will set aside K60 billion for loans in the 2024/25 fiscal year because the repayment rate has improved.
Said Mdyetseni: “Next year, we are targeting 30 000 to 40 000 Malawians to benefit from over K60 billion loans which we are going to disburse.
“The repayment rate has also been good because we are at 74 percent national average.”
Due to the improved repayment rate, he said K20 billion of the K98 billion disbursed, was generated from loan collection.
In his remarks, presidential adviser on religious affairs Reverend Brian Kamwendo said faith leaders are important to the socio-economic development of a country because they are held in high esteem by their followers.
“That is why the government has seen it to give a chance to them to access Neef loans,” he said.
