MASLOC disburses loans to 17 groups in Western Region
The Microfinance and Small Loans Centre (MASLOC) has disbursed group loans to some 17 groups in the Western Region.
The disbursement exercise which took place in Takoradi on Wednesday, October 25 and in Tarkwa on Thursday, October 26 this year saw 100 beneficiaries in Takoradi and 227 beneficiaries in Tarkwa receiving the micro loans for their businesses.
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Speaking on the occasion, the CEO of MASLOC, Hajia Abibata Shanni Mahama Zakariah, expressed sympathy with the beneficiaries, many of whom were victims of the Takoradi makeshift market fire that razed down over 100 shops six months ago.
She noted that the incident had had a significant impact on the businesses and livelihoods of the market women, thus necessitating the disbursement of the group loans.
Hajia Zakariah further disclosed that she had to increase the number of beneficiaries from an initial 50 individuals to 100 in order to assist them to revamp their businesses.
Beneficiaries, who received amounts ranging from GH¢1,000 to GH¢2,000, expressed their willingness to repay the loans in order to access increased amounts in future disbursements.
Engaging beneficiaries in Tarkwa, the CEO of MASLOC stated that market women were a very strategic component in driving the economy and there was the need to support them with loans to help boost their businesses.
She also urged all beneficiaries to make efforts to repay the loans, which would contribute to the overall goal of sustaining MASLOC's revolving funds.
In response to enquiries from pressmen, she emphasised that the institution's loans were distributed to Ghanaians between the ages of 18 and 65 who qualified for micro loans to support their businesses.
MASLOC's Regional Manager, Malik Botwey, said his outfit had taken steps to fully orientate the market women on the terms of the loan and added his voice to the call for the beneficiaries to repay their loans in order to help them access higher amounts in future.
Speaking to the beneficiaries in Tarkwa, the Member of Parliament for the Tarkwa Nsuaem Constituency and Deputy Minister of Lands and Natural Resources, George Mireku Duker, expressed gratitude to MASLOC for disbursing the loans to beneficiaries in his constituency.
He also asserted that he would assist in sensitising beneficiaries to repay the loans on time so that the disbursements could be extended to many more people in future.
In addition, Mr Duker informed the CEO of MASLOC that he had submitted an application for support through the institution's hire purchase scheme. He said through the scheme, he had acquired items such as sewing machines, hairdryers and saloon cars for the youth in his constituency who met the eligibility requirements.
The disbursements in Takoradi and Tarkwa, which formed part of a series of upcoming disbursements, were attended by the Deputy CEO for Operations, Paul Sarbeng; the Deputy CEO for Finance and Administration, Kwabena Asamoah; and the Head of Credit at MASLOC, Issah Iddrisu Amadu.