NEWS
NEEF CENTRE EAST REGION HOLDS A PERFORMANCE REVIEW MEETING
The National Economic Empowerment Fund (NEEF) Limited held the annual performance review meetings on 12th April 2024 at Thope lodge in Mponela. The aim of the performance review is to provide feedback and guidance to NEEF staff and help them to improve performance in their designated tasks.
During his opening remarks, Mr. Mdyetseni, the CEO of NEEF, underscored the significance of these gatherings, highlighting their role in facilitating planning for the upcoming fiscal year, establishing fresh objectives, evaluating capacity, and familiarizing staff. Additionally, he recognized the hurdles encountered by the fund over the past year and stressed the paramount importance of maintaining focus on their mission to empower Malawians through enhanced access to financial assistance.
Branches were summoned individually to review their performance under the guidance of their Area Supervisors. During these sessions, certain staff members received commendation for their outstanding efforts, while others received constructive criticism regarding areas for enhancement. As the day concluded, the region was tasked with new objectives in anticipation of the 2024/2025 fiscal year, underscoring the fund’s ongoing commitment to serving the underprivileged.
The Regional Manager, for Centre East Region Mr. Apatsa Kadaluka emphasized on the importance of the performance review as it gives the region an opportunity to present their accomplishments, identify areas for improvement as well as align their goals for the new fiscal year as they contribute to the success of the fund as a whole.
The National Economic Empowerment Fund Limited (NEEF) held a branch performance review meeting with the Central West Region at Lilongwe Hotel, on 9th April 2024. The meeting was held in preparation for the 2024–2025 fiscal year Lilongwe Hotel. In addition, the meeting was conducted to assess the organization’s success and to establish plans for collection and disbursements of loans.
During the meeting, NEEF Board Director, Aram Beza expressed his appreciation for the way NEEF staff members carry out their daily tasks. He also emphasized that NEEF, as a government microfinance organization, must continue to assist all Malawians accordingly.
Beza said, “I’m glad that every NEEF official does not give up on helping people every day. But, let me remind you all that every institution has a mission, and we have ours. We expect everyone to work hard in carrying out their duties; we don’t want lazy people here. Instead, we expect you to not only disburse but also collect what you have disbursed.”
The Chief Executive Officer of the National Economic Empowerment Fund Limited, Humphreys Mdyetseni, complimented the Board Directors remarks and urged all officers stationed in NEEF offices to take responsibility for their deeds. Consequently, every branch was given its own targets, which are anticipated to be accomplished by the end of the fiscal year 2024–2025 in both Job creation, disbursements and collection.
Upon the introduction of two new loan products – the Micro Irrigation and Farm Implements loan, and the Farm Produce Off-takers loan – in February of this year, NEEF conducted a pre-disbursement monitoring exercise in all regions to assess the eligibility of prospective clients who have applied for the loans.
These two new loans fall under the Agricultural Production Development loans, targeting the winter season from April to September each year.
In the Northern Region, one of the prospective clients for the loan is Mr. Fred Nkhoma of Isaac Village, T/A Mwabulambya in Chitipa. Mr. Nkhoma has applied for a 5 million Kwacha Micro Irrigation loan to help increase his production capacity. He grows maize for commercial purposes and believes that the injection of the loan into his farming will enable him to purchase all the necessary requirements for this winter season.
Another prospective group client, Chiwondo Men of Kishombe Village, T/A Kyungu in Karonga, has also applied for a 9 million Kwacha loan to increase their farming capital. Chiwondo Men intend to use the loan to enhance their production capacity of maize, tomatoes, and various leafy vegetables.
Mr. Nkhoma and Chiwondo Men believe that with the infusion of this loan into their farming activities, they will achieve bumper yields sufficient for both consumption and commercial purposes. The Micro Irrigation and Farm Implements loan aims to contribute to food production and security, promote exports after achieving a food surplus, and foster agricultural business and entrepreneurship among Malawians.
Emphasizing the importance of the exercise, Mr. Felix Tembo, Head of Credit at NEEF, leading the Karonga and Chitipa team, stated that this pre-disbursement monitoring exercise aims to enable NEEF to confirm the existence of Micro Irrigation and winter farming clients, determine the readiness of clients for the winter cropping, understand the specific needs of the clients regarding the loans, and verify the accuracy and validity of the submitted information to facilitate loan disbursement. This will also aid NEEF in validating its due diligence to ensure the provision of sound loans, ultimately safeguarding public funds through proper loan recovery.
Mr. Tembo added that, in addition to assessing clients’ repayment capabilities, the exercise seeks to evaluate the relationship between clients and NEEF Loan Officers, enabling the Fund to understand how to improve customer service delivery.
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