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Why loan defaulting is rampant in Malawi?

Why loan defaulting is rampant in Malawi?
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Msungama storms Neef offices over loans for the youth

April 8, 2021
Owen Khamula - Nyasa Times 3 Comments
Minister of Youth and Sports Ulemu Msungama on Wednesday stormed National Economic Empowerment Fund (Neef) offices to find out why there were delays in disbursement of loans to the youth.
Msungama: Youth want loans
Neef acting chief executive officer Humphrey Mdyetseni said so far, the government-owned microfinance firm has disbursed K2.9 billion of the K5 billion government allocated to it since it resumed loan disbursements in February.
He has expressed confidence that the organisation will distribute the entire K5 billion by mid May, adding that it expects to distribute a maximum of K15 billion by the end of the current financial year. ....

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