By Jones Gadama
The National Economic Empowerment Fund (NEEF) has reported significant loan repayment progress in the North Lilongwe Zone, with K16.6 billion repaid out of K40 billion disbursed to 37,000 individuals over the past four years. This marks a notable achievement in the zone, which covers parts of Lilongwe North and Mchinji District.
According to Apatsa Kadaluka, North Lilongwe Zone Manager, cultural beliefs and values in the area have contributed to the repayment rate.
However, Mchinji District lags behind, having repaid only K2.3 billion out of K7.4 billion disbursed during the same period.
Kadaluka’s comments came during an awareness meeting with youths in Mchinji, where the status of loan repayment and disbursement was discussed.
Bornfascio Jephter, a youth representative, suggested that NEEF should reconsider its collateral conditions, which he believes hinder many young people from accessing loans.
The NEEF has disbursed K230 billion across the country since September 2020, with the Central region receiving the largest share of K116 billion and collecting K47.4 billion in repayments.
The North Lilongwe Zone’s repayment progress is encouraging, but more work needs to be done to improve repayment rates in districts like Mchinji.
