By Manasse Nyirenda

Rumphi, October 24, Mana: Rumphi district has topped National Economic Empowerment Fund (NEEF) loan repayment in the country with 100 percent loan repayment rate.

NEEF Chief Executive Officer, Humphrey Mdyetseni, made the announcement during a stakeholders consultative meeting with chiefs, area development committees (ADCs) leaders and council officials at Rumphi Boma Wednesday.

While expressing his satisfaction with loans repayment in the district he urged people who access the loans in the district to apply for bigger amounts that can transform their communities through businesses that provide employment opportunities for others.

District Commissioner for Rumphi, Emmanuel Bulukutu, who is also a beneficiary of the loans urged the youth in the district to apply for the loans and invest the money in businesses that lead to their financial independence.

"Without the participation of the youths in economic activities the country cannot develop. If the youth are economically empowered we will achieve Malawi 2063 earlier," said Bulukutu.

One of the NEEF loans beneficiaries Victoria Kalua says she started accessing NEEF loans in 2022 which she invested in farming and tailoring.

She said she now owns a house and is also able to pay for her children's tuition fees with one in college and two who are in secondary school.

In an interview on Wednesday, NEEF Regional Manager for the North, Amos Phiri said Rumphi has done well in loan repayments due to support they get from traditional leaders and also ADCs who help them identify credible clients and also during collections when due. 

He added that NEEF has softened access to loan for the youth in order to allow them to access it an invest in various businesses of their choice.

"We have various loan portfolios that can easily be accessed by the youth such Vuukani Mmatope which does not require collateral.

"Additionally, in some cases the youth can also access loans through collaterals provided by parents, friends and relations," said Phiri.

Rumphi District Youth Network Chairperson, Dennis Mkandawire said he will share information in various youth groupings to enable them access the loans and transform their lives,

At least K4 billion has been disbursed in Rumphi cumulatively.