Malawi: Farmers in Mchinji district have commended the government for introducing National Economic Empowerment Fund Limited – NEEF farm inputs loan. The aim of the initiative is to promote agricultural commercialization in the country.
Henderson Mwavuli from Group Village Head Mayola, utilized the proceeds from his first loan to purchase a solar pump. He made the purchase after initially investing 2 million kwacha in broiler chicken farming.
He then obtained his second loan of 12 million kwacha and is currently cultivating 5.5 hectares of tobacco, 15 hectares of maize, and raising layer chickens. The beneficiary of the loan has been happy after receiving the assistance of the country.
He thanked the government for the initiative, stating that it will enable farmers to become self-sufficient. The government initiative will help them easily acquire all necessary farm inputs for large-scale crop production.
Mwavuli encouraged fellow farmers to undergo the required application processes and obtain loans to invest in their farming endeavours.
Boniface Puye, a first-time NEEF loan recipient from Mchinji North, highlighted the positive impact of accessing the loan on farmers. He was happy about the lower interest rates compared to previous experiences with loans carrying almost double interest.
Alongside a group of five farmers, he secured a 1 million kwacha loan with an interest of K200,000, supporting the cultivation of maize, groundnuts, and cassava.
He praised NEEF for offering loans with very low interest, compared to previous experiences with loans carrying higher, almost double, interest rates. Puye also acknowledged that many people in the area desire such financial assistance and will be working with NEEF officers to explore and benefit from these loans.
After interacting with the farmers, Minister of Information and Digitalization Moses Kunkuyu, affirmed the effectiveness of President Chakwera’s strategies to enhance food sufficiency in the country. He underscored the importance of funding productivity during the transition from consumption-oriented to commercialized agriculture.
Kunkuyu expressed his satisfaction to witness more farmers accessing loans, investing, repaying, and expanding their businesses emphasizing that this progress aligns with the government’s vision of building a thriving, self-reliant nation.
NEEF Board Director, Tapulumuka Thombozi said he is happy with the performance of loan beneficiaries. They talked about thriving crops and a repayment rate exceeding 70%.
He commended the government’s commitment to ensure program sustainability and anticipates positive outcomes from parliamentary discussions to increase funding allocation.