NEEF performs against odds, beats K75 billion target

By Wanangwa Tembo

Kasungu, January 29: National Economic Empowerment Fund (NEEF) has disbursed loans amounting to K87 billion, beating the government set target of K75 billion for the period from February, 2021 to March, 2024.

NEEF Board Chairperson, Jephta Mtema, disclosed this in Kasungu on Saturday when the fund handed over four boreholes to communities in Kasungu South East Constituency at a ceremony that took place at Chinkhoma Market in Traditional Authority (TA) Njombwa.

The boreholes, drilled to the tune of K30 million, are a token of appreciation to the people of the area for their record 95 percent NEEF loan repayment, the highest ever recorded in the country.

He said the national average for loan repayments stands at 73 percent with Kasungu scoring highly at 87 percent.

“We are doing well in loan recoveries mainly because people use the money for the intended purpose and also because of the trainings we give them.

“We thank the people of Kasungu for toping the repayment list and in a special way, those of Kasungu South East Constituency whose repayment is at 95 percent. This is why we thought of thanking them with the boreholes,” he said.

Member of Parliament for the area, Khumbize Kandodo Chiponda thanked NEEF for giving back to the community saying the boreholes will mitigate water challenges being experienced in the constituency.

Chiponda said: “Let me take this opportunity to ask everyone here to get organised and apply for the loans. These loans are one way of ensuring that government resources reach communities.

“No one should be living a life of begging. Let’s use these opportunities that government gives us. However, we must remember that these funds are loans so we must apply for manageable amounts so that we are able to pay back.”

In his remarks, Senior Chief Njombwa appealed to the communities to do more in paying back the loans so that more villages get water through the initiative.