By Nick Kayange
Zomba, June 15, Mana: National Economic Empowerment Fund (NEEF) says it will start providing loans to technical and vocational skills graduates to empower them economically.
NEEF Public Relations Officer, Whytone Kapasule said the institution has collaborated with learning institutions that provide entrepreneurial training such as SMEDI and TEVET to support students who complete their studies with start-up capital.
He said the loans would reduce challenges that most graduates face, thereby allowing them to actively engage in socio-economic activities.
“Currently, we are formalising a new partnership with TEVET to enable the entrepreneurial authority to pass on the cream of their graduates to NEEF to access loans.
“The individual youth that have undergone TEVET training or any other body, can come to us directly with their business proposals for possible funding.
“Alternatively, they can form groups that are business-minded and access NEEF’s group loans,” said Kapasule.
Public Relations Officer for TEVET, Lewis Msasa, said the intention of the partnership is to ensure that students have access to specialised loan products and start up their independent businesses.
He said most graduates do not have start-up capitals, a development that renders them irrelevant in the community.
According to the TEVET spokesperson, the loan scheme would open up opportunities for students to put into action what they learnt and contribute to the socio-economic development of the country.
“We have finalised drafting the memorandum of understanding (MoU) and both parties have agreed to go into this agreement.
“We are just waiting for an appropriate time for the signing ceremony of the MoU by the two parties,” said Msasa.
“We believe the agreement is going to enhance the capability of TEVET beneficiaries to advance their entrepreneurial aspirations and create jobs for fellow Malawians,” he added.
So far, Neef has disbursed K5 billion in form of loans to Malawians.
