The National Economic Empowerment Fund (NEEF) says people masquerading as NEEF trainers and recruitment agents are stealing money from Malawians.
According to a statement by NEEF acting chief executive officer Humprey A.J. Mdyetseni, the unscrupulous people have been collecting money from unsuspecting masses.
He urged Malawians to report such people to police as NEEF does not operate through any agents or third parties.
“Extorting money from the unsuspecting members of the public under the pretext of NEEF is a typical case of robbery that is punishable by law. The public is therefore being advised to stay away from such unscrupulous people,” he said.
Mdyetseni then revealed that NEEF is currently reviewing the loan process and products to ensure that they are aligned to serve the masses better.
He said: “The Fund is expected to resume lending by January, 2021 and the public will be informed accordingly of the processes and requirements through the media and NEEF establishments across the country.”
The National Economic Empowerment Fund was established to provide soft-loans to small businesspersons and it targets women and youth.