By Cathy Maulidi:
National Economic Empowerment Fund (Neef) has disclosed that it has distributed K20 billion worth of farm inputs countrywide in the form of loans.
Neef Head of Operations Kisa Kalolokesya said this Sunday during the distribution of fertiliser to farmers in Mchinji District.
“We plan to disburse K150 billion to more than 200,000 farmers out there and, this far, we have managed to disburse K20 billion and this amount accounts for both cash and the fertiliser we are distributing today.
“The larger part of that component is the cash loan, which is to the tune of about K15.4 billion, and the remainder accounts for inputs,” Kalolokesya said.
- Advertisement -
The agricultural loans, according to Kalolokesya, are offered at low interest rates ranging from 2.2 percent to 4.8 percent per month.
To mitigate climate change uncertainties affecting harvests, Kalolokesya said Neef had partnered CIC Insurance Company.
“This partnership provides comprehensive insurance coverage, protecting both crops and farmers through group life insurance.
“Specifically, this coverage addresses crop-related eventualities and ensures farmers’ lives are also insured,” Kalolokesya said.
- Advertisement -
- Advertisement -
Kalolokesya urged farmers to utilise the farm inputs and make sure that they repay the loans when needed to do so.
Group Village Headman Robert 1 expressed gratitude to Neef for the support.
He said the initiative would help enhance farmers’ yields.
“However, we kindly ask for your assistance in raising awareness on insurance benefits. Many farmers remain uninsured, making them vulnerable to annual disasters. Insurance education would greatly support their resilience,” Robert 1 said.
To qualify as a beneficiary, one must be a farmer with a minimum of five acres or be part of a farmer cooperative with more than five acres
Alinafe Kansanja women Cooperative Chairperson Irene Shati said her cooperative had nine women who applied for K27 million worth of fertiliser.
“All cooperative members are here. We are beyond excited to receive the fertiliser. This is a huge boost for our farming journey,” Shati said.
In Mchinji, Neef distributed 804 bags of Urea fertiliser and is expected to distribute 804 bags of NPK in the coming days.
A similar exercise was conducted in Mitundu, Lilongwe.
