“There is need to educate the youth, women who get the loan on financial prudence and discipline.”
The youth and women in the country are facing insurmountable problems to access the flagship countrywide loan scheme from the the country’s micro-finance firm, the National Economic Empowerment Funds (NEEF) due to cumbersome procedures.
The matter was raised through a question during a bi-weekly State House Press briefing, which was convened on Monday after State House director of Communication and President Chakwera’s Executive Assistant, Sean Kampondeni announced that the Head of State had a fact-finding date with the NEEF top brass to iron things out.
One of Democratic Progressive Party (DPP) founding members and former cabinet minister in the Peter Mutharika administration, Henry ‘Mtengowaminga’ Mussa has said he is the latest victim of a calculated smear and mudslinging campaign by suspected political enemies who have been publishing falsehoods to tarnish his “good image”. Speaking to Nyasa Times on Tuesday in […]
The National Economic Empowerment Fund (Neef), formerly Malawi Enterprise Development Fund (Medf), says it has released K2.9 billion under the National Economic Empowerment program from February to date.
Neef chief executive officer Humphrey Mdyetseni: The fund has between February and March disbursed togroups e–Photo by Watipaso Mzungu, Nyasa Times
NEEF Public Relations Officer, Whytone Kapasule, said in an interview on Monday that over 1,429 groups; 443 youth groups, 915 women and 71 others have so far benefited from the fund.
“From these groups, a total of 4,430 individuals have already benefitted representing 31 percent. But let me also stress that NEEF is planning to disburse the initial K5 billion by mid-May, 2021,” said Kapasule.
March 14, 2021 Owen Khamula- Nyasa Times 2 Comments
Malawi Police in Lilongwe have arrested two conmen guised as pastors who duped people by claiming they were officials from government-owned microfinance firm National Economic Empowerment Fund ( Neef).
Suspected behind bars
They have been charged with obtaining money through false pretences.
Police said the two suspects went around Mgona in Lilongwe in December 2020, instructing the community members to create clubs of 20 members each so that they could be given loans from NEEF formerly called MERDEF.
They demanded registration fee of K4,000 cash from each member and 33 clubs were formed. They collected money amounting to k2.7 million in the process.
February 10, 2021 Green Muheya - Nyasa Times 20 Comments
Four senior managers including chief executive officer Mervis Mangulenje have been fired at National Economic Empowerment Fund Limited (Neef) formerly Malawi Enterprise Development Fund (Medf), following a disciplinary hearing prompted by an audit that exposed alleged abuse.
MEDF Chief Executive Officer, Mervis Mangulenje : Fired
Malawi Talk reported on Friday February 5 2021 that Mangulenje has been summarily dismissed alongside head of credit Edwin Visabwe, head of operations Alexon Mwakhula and head of finance Hilarious Nampota.
The Nation daily newspaper on Wednesday February 10 2021 in its report about the firing of the four, confirmed with Neef board chairman Cornelius Majawa who said the board made a decision after disciplinary hearing comprising some members of the audit team and staff from human resources which met on January 21 2021 and resolved to dismiss the four.