By Maston Kaiya
Ntcheu, September 5, Mana: Clients of the National Economic Empowerment Fund Limited (NEEF) in Ntcheu owe the institution MK655 million in arrears.
NEEF Head of Operations Kisa Kalolokesya disclosed the development during a local leaders’ consultative meeting on Thursday in the district.
He said the institution disbursed MK2.5 billion to 4,109 clients in the district but the collection rate is a challenge.
“The collection rate for the district is at 68 percent which is below the average. Over MK655 million is yet to be collected from the beneficiaries,” he said.
The area of Senior Chiefs Njolomole and Ganya are the biggest debtors in the district.
On his part, Senior Chief Njolomole said he was disappointed with the development and has assured stakeholders that he will embark on an awareness campaign in his area on the importance of paying back the loans.
“This is a revolving fund and needs to be honoured,” said Njolomole.
Chairperson for Ntcheu District Council, Councilor Flaness Kampeni commended the meeting which will make all the stakeholders move together in addressing the challenges.
She highlighted that NEEF loans are not gifts as such people should pay back.
