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NEEF Worried with Ntchisi Loan Defaulters

NEEF Worried with Ntchisi Loan Defaulters

The National Economic Empowerment Fund (NEEF) has lamented that its workers are being threatened when recovering money from people who borrowed from the institution in the Centre East Region especially in Ntchisi District.

Regional manager for the Centre Apatsa Kadaluka says for example, they are struggling to recover about k400 million kwacha out of the k2 billion kwacha that was disbursed in the district last year.

"Correction rate for Ntchisi is at 77 percent which is below the national average of loan recovery because at the moment the district is owing us about 400 million kwacha out of the K2 billion disbursed last year and when our workers approach those that are supposed to repay the loan they resist or resort to be violent and even chase them away", he said.

He said this has the potential to hinder performance of the institution and has since called on stakeholders in the district which include police and chiefs to help in the recovery of the owed amount .

"There is need for concerted efforts among stakeholders in the district for the money to be recovered because others also want to benefit from the initiative", he added.

He said this during the stakeholders meeting held at Mponela in Dowa District on Thursday.

On his part, Officer In-Charge for Ntchisi Police Tiyese Chiumbudzo said they are ready to help the body in recovering the money but also cautioned its officials to make proper investigations before disbursing the loans.

Senior Chief Kasakula of the district also pledged to support NEEF in dealing with the problem.

"We will talk to our subjects on the importance of paying back the money because these loans are helping the nation a lot", said the senior Chief.

The meeting drew together chiefs, councilors and Ntchisi District Council Officials.

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