BY YAMIKANI PHAIVA
National Economic Empowerment Fund (NEEF) Limited has challenged youth in the country to form groups that will enable them to access loans to improve their livelihoods.
NEEF Acting Chief Executive Officer, Humphrey Mdyetseni, said the youth who are in majority, have the potential to run various businesses that can help to grow the country’s economy.
Mdyetseni made the appeal Thursday in Mzuzu when his organisation engaged youth network leaders from the Northern Region.
“We organised this meeting with network leaders from the Northern Region in order for them to reach out to their fellow youth network members for purposes of drumming up the participation of the youths in the NEEF programmes to attain a high absorption rate of funds. The youth should get organised for them to access these loans,” appealed Mdyetseni.
NEEF has disbursed about K8.1 billion since the resumption of the loan disbursements in February 2021 and the figures indicate women are leading with K4.6 billion followed by the youth groups K1.9 billion and the small, micro and medium collected K1.3 billion.
But in his contribution, Mzondi Mkandawire, a businessman based in Mzuzu, feels the women are doing better because they are coming from the background of the village and saving loans groups.
“The women are well organised through village savings and loans, and it becomes easy for them to come together to access NEEF loans. The youth are disorganised but I think the Ministry of Youth has the role to strengthen the existing youth structures,” Mkandawire said.
But Director of Youth in the Ministry of Youth and Sports, Judith Msusa who was guest of honour at the event, said her office has joined hands with NEEF to ensure that they undertake the youth awareness meetings in all regions as a way of encouraging youth to access the loans.
“Let me urge the youth network leaders to reach out to their fellow youth members for purposes of drumming up the participation of the youths in the NEEF programmes to attain a high absorption rate of funds,” said Msusa.
Speaking at the event, Project Officer at Youth and Society, Dalitso Magelegele, thanked NEEF for ensuring that various stakeholders are taken on board including the youth observing the move will help to increase the loan absorption rate.
“Since NEEF has indicated will continue working with stakeholders such as Malawi Posts Corporation, the district youth offices, the national youth council, and other stakeholders, it remains our hope at the end of the day that young people will benefit from this loan facility by enhancing that collaboration,” said Magelegele.
The Government-owned Microfinance Institution is expected to conduct similar sensitization meetings for youths in the Central, Eastern and Southern Regions of the country as a way of enhancing knowledge of the youths in the loan process and requirements.
