Government sets aside K8 billion for boosting businesses


President Lazarus Chakwera says his government has set aside K8 billion which vendors can borrow through the National Economic Empowerment Fund (NEEF) to boost their businesses.

Chakwera disclosed this at Zingwangwa Market in Mzuzu during an interaction with vendors of the city’s market.

“I know many of you are struggling to find capital for your businesses. What we have done by putting aside K8 billion towards NEEF, is a step we are taking to help our vendors. Do not lose hope. Our economy is now back on track.

Chakwera interacting with vendors.

“For the first time in the history of this country’s budget, 30% is going towards developmental projects. Through this we will ensure the old structures in our markets are rebuilt so they don’t end up hurting people,” he said.

The Malawi president also highlighted that this is the first time government has had over 70% recovery from NEEF loans, and with this, government will work towards addressing challenges that the vendors are facing.

He also said that his government is making an effort to ensure that the bridge between the rich and the poor is not wide.

“Business cannot strive when other unpatriotic people are profiting from the sweat of the poor Malawians. The margin between the rich and poor should not be so great. The country can only develop once everyone develops, regardless of their financial status in the society,” he added.

Chakwera also indicated that his government will build a new airport in Mzuzu to enable tourists to fly directly to the city and not depend on Kamuzu International Airport in Lilongwe.

In his remarks, Mzuzu City Member of Parliament, Bennex Mwamlima commended Chakwera for developing the nation despite the challenges the country is facing.

On the other hand, Chairperson for Zingwangwa Market, Gerald Maulana said Chakwera is a humble leader and he has shown his humility through the interaction with the vendors.

Among other notable people, the president was accompanied by Minister of Justice, Titus Mvalo, Minister of Defence, Harry Mkandawire, Mayor for Mzuzu City, Gift Desire Nyirenda and Minister of Local government, Richard Chimwendo Banda.