NEEF Courts Musicians Union of Malawi

The National Economic Empowerment Fund Limited – NEEF on Friday, 21st January 2021, interacted with the Musicians Union of Malawi (MUM) in order to orient the representatives of all Musicians in the country on the mandate and processes of the fund.

The event which took place at Simama Hotel in Lilongwe was graced by the Chairperson of the Fund, Mr. Jephta Mtema; the Director of Arts in the Ministry of Tourism, Mr. Humphrey Mpondaminga; a Trustee of the Music Union of Malawi, Rev. Wycliff Chimwendo; MUM’s President, Mrs. Gloria Manonga, other executive members of the union and members from all chapters across the country.

NEEF's Board Chair, Jephta Mtema

Opening the event, the NEEF Board Chairperson, Mr. Mtema said the awareness meeting is crucial in order to meet NEEFs mission to be an all-inclusive fund that serves every single Malawian regardless of trade. He further urged the union members present to heed all the advice given and follow all the procedures necessary in order to benefit from the fund.

Principal Secretary of the Ministry of Tourism was represented by Humphrey Mpondaminga who said the Ministry is striving to support the arts industry in the country, in which musicians are a huge part. He further highlighted the need to find alternative sources of financing for the arts in the wake of Covid-19. He stressed that the Ministry has in place a number of initiatives that will ensure that musicians get the required support.

MUM’s President Gloria Manonga urged the union members to have aforethought of repayment if they decide to apply for a loan because the reputation and sustainability of both the union and the fund lie on this basic principle.

MUM's President, Gloria Manong'a

The Acting Chief Executive Officer of the Fund, Mr. Humphrey Mdyetseni reaffirmed NEEF’s commitment to serving the ordinary and underserved Malawians in order to uplift them out of poverty.

He further highlighted the challenges the fund is facing and the corrective actions being put in place in order to mitigate the risk.

“We prioritize loan applications that have an intention to create partnerships and jobs”, said Mdyetseni.

NEEF's Acting CEO Humphrey Mdyetseni giving an over of the Fund to the musicians

This kind of partnership is one in a series of initiatives that NEEF aims to undertake in its quest to economically empower Malawians and prospects are that many such partnerships will sprout in 2022. It is envisaged that such interactions will help disseminate critical information to prospective clients so that the Fund achieves its strategic objectives.

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