About NEEF

What is NEEF?

The National Economic Empowerment Fund Limited (NEEF) is a Government owned Microfinance Institution whose mission is to economically empower ordinary and underserved Malawian (particularly women, youth and persons with disability) through the provision of quality, affordable and sustainable microfinance services for improved livelihoods.

NEEF is a radical rebrand of the Malawi Enterprise Development Fund Limited  whose reconstitution happened in September 2020 with a mandate is to look into the broader objectives of microfinancing with focus on economic empowerment.

The institution operates on a license that was issued in January 2015 by the Reserve Bank of Malawi as a Non-Deposit Taking Microfinance institution.

Vision

 A preferred and all-inclusive microfinance institution in Malawi.

  Mission

 To economically empower an ordinary and underserved Malawian (particularly women, youth and persons with disability) through the provision of quality, affordable and sustainable microfinance services for improved livelihoods.

Empowering Women Entrepreneurs in Malawi

Our Background

The National Economic Empowerment Fund Limited (NEEF) replaced the Malawi Enterprise Development Fund Limited (MEDF) that was registered under the Company’s Act as a Company that is limited by guarantee in 2014. MEDF Ltd was the successor of the Malawi Rural Development Enterprise Fund [MARDEF] which was established by the Government of the Republic of Malawi with the approval of Parliament.

MARDEF was launched by Presidential decree on 29th January, 2005. Thereafter, the Malawi Parliament passed a resolution to set up MARDEF on 11th April, 2005 where it was envisaged that MARDEF would eventually be established by either an Act of Parliament or under the Companies Act as a company limited by guarantee in the year 2014. As a result of this, MEDF was formed and inherited the assets and liabilities of former MARDEF, the Youth Enterprise Development Fund (YEDF) and the Farm Input Loan programme (FILP) that were implemented from 2012 to 2014.

NEEF’s predecessor, Malawi Enterprise Development Fund (MEDF) was then registered under Company Act 2013 as a company limited by guarantee and has a Reserve Bank of Malawi licence as a Microfinance Institution in the non-deposit taking category. NEEF is also governed by the Financial Services Act 2010 and Public Finance Management Act.

Shareholding and Capital Structure

NEEF is 100% owned by Malawi Government through the following ministries:

Ministry of Finance  – 25%
Ministry of Agriculture – 25%
Ministry of Youth – 25%
Ministry of Industry and Trade – 25%

MEDF Business Loan

Strategic Objectives

  1. Contribute to the country’s economic development through provision of diversified loan products to Micro, Small and Medium Enterprises.

  2. Contribute to increased employment (1 million jobs) by among others supporting enterprises that have the potential to create jobs and direct employment of young Malawians.

  3. Entrench the enterprising spirit in youth, women and other groups that have the potential to contribute to socio-economic growth.

Operational Philosophy

NEEF believes in the following as it  delivers on its mandate:

  1. Credibility of the borrowers by having a watertight   loan   processing from   the grassroots to the final stage   to   reduce loss of   funds as a result of   defaulters.
  2. Prioritisation of medium enterprises that have the potential   to   create   jobs for Malawians.
  3. Development of entrepreneurial skills in the borrowers through   business   management training.
  4. Encourage partnership of already established entrepreneurs with   upcoming   entrepreneurs for knowledge transfer and sustainable   enterprises.
  5. Diversification of product base to accommodate   entrepreneurs   from diverse sectors of   the   country’s socio-economic   fabric.

Achievements

We take pride in every project we have funded. We have grown a lot with our work years.

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Satisfied Clients

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Businesses Funded

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Jobs Created

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