FARMSE disburses K818m seed money

By Charles Banda:

Over 3700 households from Dedza and Mangochi can now afford a smile as Financial Access for Rural Markets, Smallholders and Enterprises (FARMSE) on Wednesday disbursed about K818 Million seed money for the ultra poor project in the two districts.

FARMSE with funding from IFAD is implementing the ultra project in nine districts across the country and in Dedza and Mangochi the organisation has partnered with World Relief a faith based organisation.

Through the project ultra poor households after undergoing successful trainings will be allocated with seed money to start small scale bussineses for their financial sustainability.

Speaking after handing over the cheque to world Relief, Ministry of Finance Director of Pension Services Alfred Kutengule said the seed money will go a long way in alleviating challenges ultra poor households are facing.

“We have families who can not afford a meal for themselves and these are the families we are targetting under this programme,” said Kutengule.

According to Kutengule, it is government’s wish that the beneficiaries put the money into good use as this is just start up capital.

On his part FARMSE Programme Coordinator Dickson Ngwende revealed that the organisation has increased the total number of beneficiaries from 15 to 17 thousand across the country.

“Initially we had targeted 15 thousand households but now by the end of this programme we will have reached 17 thousand households,” said Ngwende.

Apart from World Relief, FARMSE has also partnered other organisations like CUMO Microfinance, Care Malawi and Oxfam.

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