The National Economic Empowerment Fund (NEEF) says it is finalizing the design of new loan products targeting fishers and miners in Malawi.

NEEF spokesperson Dan Chakhaza told Zodiak Monday that the fisheries loan will be rolled out soon, while the mining loan product has already been completed and is awaiting shareholder approval before launch.

“We have made significant progress toward introducing fisheries and mining loans. These facilities respond to concerns raised by industry stakeholders over the lack of capital in their sectors,” Chakhaza said.

While not disclosing collateral requirements or the number of targeted beneficiaries, Chakhaza stressed that the loans are meant to promote sustainable enterprises.

“We have made progress on this. NEEF has been disbursing business and farming loans, and now we are also targeting irrigation. The fisheries and mining products will support long-term, sustainable and viable ventures,” he added.

Mining expert Kossam Munthali welcomed the move, describing it as long overdue and a potential game-changer for the mining sector.

“For too long, the mining industry has lacked adequate financing. This initiative is a turning point, but it must target the whole mining value chain—including both big and small-scale miners,” Munthali said.

NEEF has been expanding its loan target audience, recently adding new groups such as pastors and farmers to the list of eligible beneficiaries.