National Economic Empowerment Fund

Right from the formative days of his administration in 2020, President Chakwera took a bold decision to restructure how government empowers its citizens in economic activities through state-sanctioned economic empowerment initiatives.

His first task was change the format of the initiative from Malawi Enterprise Development Fund (Medef) to National Economic Empowerment Fund (Neef). The previous format had been heavily abused by party cadres under previous administration and Chakwera wanted something that works for every Malawian regardless of political and tribal affiliation.

In just four years, NEEF has capitalized close to 250,000 small and medium enterprises across the country with disbursements amounting to around K225 billion.    

Another milestone is the collection rate which now stands at 73 percent against a meagre below 10 percent under Medef.