Malawi’s National Economic Empowerment Fund (NEEF) has disbursed K5.56 billion cash to various women and youth groups to help improve their status and position them towards entrepreneurship generally.
The Spokesperson for NEEF, Whyton Kapasule, disclosed that NEEF is mandated to assist Malawians on small business ventures which will uplift their well-being, noting that empowerment has its many uses.
“K5.56 billion has been disbursed so far to women and youth groups. National Economic Empowerment Fund Limited is mandated to assist Malawians to set up small business ventures which will uplift their wellbeing by providing them with affordable loans, and sustainable, technical, entrepreneurial, financial and managerial skills” he said.
From his estimation, about 2,335 Groups have benefited from the cash loans, with each group comprising of 10 members on a minimum count, placing the number at more than 23,350 beneficiaries so far.
“The loan products are structured according to age with the women loan age limit being 18 to 60. This means that among the women that have benefited are female youths between 18 and 36 that couldn’t register as youths due to marital status or other issues
“We likely, therefore, have more youths between the ages of 18 and 36 years that have benefited from the loans than women,” he said.