The National Economic Empowerment Fund (Neef) has urgently petitioned Parliament to lift a suspension on the sale of overstocked farm inputs, warning that delays could lead to a K15 billion loss as perishable goods rot in storage, according to Nyasa Times. In a letter to the Clerk of Parliament, Neef Chief Executive Officer Kayisi Sadala requested immediate permission to dispose of time-sensitive items such as maize seed, bean seed, and fertilisers. The inventory freeze stems from a February directive by the Public Accounts Committee, which halted planned auctions pending a forensic audit to prevent potential corruption during the disposal process.
Neef noted that the ongoing audit has paralysed lending operations, leaving the institution with K12 billion in unpaid invoices tied to the inputs, Nyasa Times reports. This financial exposure includes K2.5 billion owed to the Smallholder Farmers Fertiliser Revolving Fund of Malawi (SFFRFM) alongside various liabilities to seed companies and local suppliers. To mitigate the mounting financial risk, Sadala proposed a compromise that would allow the transparent sale of perishable goods while maintaining the ban on durable assets like solar water pumps and irrigation equipment until the audit is complete.
Meanwhile, national maize prices have seen a significant decline, dropping to between K38,000 and K60,000 per 50-kilogram bag, down from previous peaks of around K100,000, according to Nyasa Times. Local vendors attribute the price reduction to recent government interventions, including the revival of the Agricultural Development and Marketing Corporation (ADMARC) markets and strategic grain imports. In response to these improved food security indicators, a group of citizens has organised a nationwide thanksgiving gathering scheduled for April 17 to publicly acknowledge the administration's economic policies.