In a fantastic move towards helping our nation grow and thrive, the National Economic Empowerment Fund (NEEF) is providing strong support to our local cooperatives.
One shining example of this support is the Hara Rice Cooperative, a lively rice producer located in Bonje Village, T/A Wasambo, Karonga. Established in 2009, their goal was clear: to open up more opportunities for rice farmers, making it easier for them to sell their rice. This change has had a big impact, especially in Bonje Village, where fair pricing and good marketing options were hard to come by.
NEEF stepped in with a substantial loan of 50 million Kwacha, which the Cooperative will repay over 12 months. This financial boost has allowed the Cooperative to expand its work and produce even better rice
The results of this help have been truly remarkable. Dr. Andy Nyirenda, the Cooperative’s Chairperson, shared their story, “During a crucial time in the rice harvest season, we needed money. That’s when we asked NEEF for help. Their support allowed us to buy a fantastic 45 tons of paddy rice from our farmers, now safely stored and ready for processing and packaging.”
This success story of the Hara Rice Cooperative is a clear example of NEEF’s strong commitment to helping local businesses and boosting our local economy. It’s a story of progress and promise that shows how we can build a brighter future together.