A group of business people who applied for National Economic Empowerment Fund (Neef) loans in Mzuzu tstormed office premises for the government-owned microfinance firm demanding their deposits back.
According to one of the people, Kissa Thindwa, they are asking for their money back because it is taking long for the firm to give them the loans.
Thindwa told Nation Online that Neef officials had called for a meeting, which took place on Tuesday, only to tell them that the firm does not have money for the loans.
She said: “They said we should transfer to a World Bank Project, which is another long process and not for small businesses.
“We are demanding our savings back with interests, because they [Neef] have benefitted from the money.”
Neef public relations officer Whyton Kapasule could not comment further on the issue as he was yet to gather more information.
He said: “Currently the regional officer for the north is in Likoma for other duties and we are trying to establish what happened for things to reach this far. ”