The National Economic Empowerment Fund Limited (NEEF) has challenged its loan officers in Ntchisi and the rest of the districts across the country to chase and collect all non-performing loans that the Fund has disbursed.
The call was made by NEEF’s Chief Executive Officer (CEO) Humphrey Mdyetseni during a meeting that he held in Ntchisi with loan officers that are working for the institution in the district.
Mdyetseni emphasized that all loans that NEEF disburses will be collected and as such the staff from Ntchisi need to up their game and chase all loans for the Fund to remain liquid and manage to keep the loans revolving.
“We have a system in place for the management of loans and is able to raise red flags on non-performing loans. This is why no one will escape with this loan; everyone who received it will be traced and ensure that they repay,” Mdyetseni said.
To add speedy monitoring of the loans, NEEF has deployed loan officers to every constituency across the country.
It is against this background that the CEO advised loan officers to collaborate with other loan officers from other constituencies in tracking the beneficiaries.
During the meeting, Ntchisi loan officers reported that some clients keep constantly changing their locations and others desert their homes when loan officers visit them to enforce repayments of the loans.
“We should pursue them until we find their new location and get our money back. I am here to do business and I am not going to tolerate anyone who intends to thwart the operating philosophy of the institution,” Mdyetseni said.
He further reassured Area Supervisor for Ntchisi District, Mphatso Ndalama that management will give him all the necessary support to enable him to collect all the loans in the district.
In his remarks, Ndalama stated they had slowed on disbursement and committed most of their efforts to collect the loans and expressed optimism that they will track down any clients who are defaulting or have relocated.
Meanwhile, Ntchisi has disbursed K303 million and its collection rate as of the second week of August 31 2022 was 59%.