By Prince Justice Banda
Lilongwe, July 18, Mana: The youth have emerged a dominant beneficiary group of the K36.8 billion worth of loans National Economic Empowerment Fund Limited (NEEF) has so far disbursed in the past 16 months from February, 2021 to June 2022.
Speaking during a press briefing in Lilongwe on Monday on loan disbursement by type and gender, NEEF Chief Executive Officer, Humphrey Mdyetseni, said among the three categories of youth, men and women, the former (youth) are dominating the beneficiary list seconded by women.
“In the previous 16 months since our take over from MEDF, we have managed to give out loans amounting to K36.8 billion to 107, 534 Malawians of which 52, 417 are youth, seconded by women and men which are totaling 44, 584 and 10, 533 clients respectively,” Mdyetseni said.
He said out of K36.8 billion, K16.2 billion which represents 44 per cent of the total loans, has been accessed by the youth while women have accessed K14.5 billion, representing 39 per cent.
Men have accessed K5.8 billion, representing 16 per cent of the total loan disbursement during the stated period, according to Mdyetseni.
A separate report from NEEF shows that it has, in the last 16 months, achieved more compared to what MEDF had achieved in six years from 2014 to 2020 when it was in operation before handing over its duties to NEEF.
For instance, the report shows that from 2014 to 2020, only 113, 602 Malawians had accessed loans amounting to K12.6 billion from MEDF while 107, 534 have already accessed K36.8 billion from NEEF in 16 months.
The report also shows that only 41, 124 youth accessed loans amounting to K4.3 billion from MEDF in those six years while 52, 417 youth have already accessed loans amounting to K16.2 billion in 16 months.
Mdyetseni described this as a great achievement. He also revealed that NEEF is expected to give out loans to more Malawians totaling K70 billion.
