Balaka South Constituency Achieves 94% Loan Repayment Rate

Balaka South Constituency has emerged as the best performing area in Balaka District as far as NEEF loan repayments are concerned.

According to statistics that NEEF presented to stakeholders from Balaka districts at a meeting that was held on Saturday at Zembani Lodge in the District, the Fund has disbursed K628 million in all constituencies in the district.

Despite the district registering a collections rate of 72% of the disbursed amount, Balaka South Constituency has achieved a 94% loan recovery rate while Balaka East is the least performing constituency whose collection rate stands at 65%.

Balaka North, Balaka Central East, and  Balaka West have achieved loan collection rates of 69%,  78%, and 65% respectively.

Commenting on the development, NEEF Chief Executive Officer, Humphrey Mdyetseni commended the people of Balaka South for taking the lead in repaying the loans so that the Fund can continue revolving. He then promised that NEEF will continue disbursing more funds in the constituency.

Mdyetseni - we will collaborate with police and arrest all impostors

“We called this meeting because the VDCs, ADCs, and DDCs are the only accepted structures that NEEF uses in recruiting clients. We, therefore, wanted them to understand their roles to foil all schemes of conmen that masquerade as NEEF agents,” said Mdyetseni.

He urged the leaders to give a helping hand to NEEF Loan Officers in their areas and also report any misconduct to the institution.

Speaking on behalf of the local leaders from Balaka South, Member of Parliament for the Area who was present at the meeting, Ireen Mambala pledged to support NEEF loan officers in her area so that more people benefit from the Fund.

Local leaders from Balaka South with their MP Ireen Mambala at the Centre, pose with NEEF CEO

She further commended NEEF for opening up that stakeholders from the district should access data on the loans that the Fund is disbursing in the area.

The Fund is conducting the repayment collaboration meetings in every district and in Eastern Region NEEF has been in Mangochi, Zomba, Balaka, and Ntcheu meetings with Chiefs, Members of Parliament, ADCs, VDCs, and other local leaders to brief them on the loan application process and report on the performance of their areas.  

Among the local leaders that attended the collaboration meeting in Balaka were Senior Chief Inkosi Chanthunya, Senior Chief Sawali, Kalembo, Inkosi Nsamala; Sub Traditional Authorities Matola, Mpilisi, Mpoto, Phimbi, Nkaya, Chakaza, Amidu, Phalula, Makwinja; Councilors from the Districts and Members of parliament.

Balaka Council Chair Farao Kambiri (Centre) alongside Balaka District Council DPD Edgar Chihana (left) joined the local leaders at the meeting

Since the inception of loan disbursements in February 2021, the Fund has disbursed K36 Billion to more than 105, 000 people in all districts across the country and deployed loan officers in each constituency as a way of making the loans accessible to the people.

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