Government has redeployed Deputy Director Responsible for Planning in the Ministry of Information and Communication Technology, Humphrey Mdyetseni to the National Economic Empowerment Fund (Neef) limited as acting chief executive officer (CEO) for “a period of three months or more.”
Neef is the mega loan program aimed at developing and reviving small scale businesses for the youth and women in the country. It was rebranded from the Malawi Enterprise Development Fund (Medef) .
According to a letter of secondment signed by Secretary to President and Cabinet Zangazanga Chikhosi seen by Nyasa Times, Mdyetseni will remain an officer of the Ministry of Information which shall continue pay him his salary and Neef which will pay the difference “as top up to match the approved salaries for officers at equivalent post or grade.”
Chikhosi said Mdyetseni t will serve as acting CEO whilst the allegations against the current management team for Neef are being finalised by the auditors.
He said the secondment shall be governed by the Malawi Public service Regulations relating to secondment of civil servants to Statutory Corporations and other organisations.
The Tonse Alliance led government wants the loan scheme to become one of the Malawi’s strategies to achieve government’s vision 2063 goals.
Neef Limited has also changed its logos from Medf, a branded version of two former State-owned enterprises namely Mardef and Youth Enterprise Development Fund (Yedef).
According to the secretary to treasury, Chauncy Simwaka, the rebranding is “in line with the aspirations of the new government towards the Malawians.”
The government is trying its best to ensure that the youth and women have a viable financial access in the country.
Economic Association Of Malawi president Lauryn Nyasulu has said there is need for restructuring the loan facility to alleviate adverse effects of political interference on the loans to the youth who owns micro businesses with cash flow problems.
According to Nyasulu significant numbers of youths have inverted or trying to come up with innovations but have no financial destination to take their dreams to.
Social commentator Wonderful Mkuche said government has to make sure economy is working for all, youth inclusive.
“When things are good at macro level it also impact the micro level, but we need direct social developmental loans that can spur innovative growth that are in line with modern world, ” he said.
He added that they is more to be done in practice to uplift lives of young people.Follow and Subscribe Nyasa TV :