MASLOC grants GH¢3 million loan to fire victims

BY: Samuel K. Obour

The Microfinance and Small Loans Centre (MASLOC) has granted a GH¢3 million loan to victims of the Makola Number Two fire in Accra.

The beneficiaries will be given a two-month period of grace to start paying back, and complete payment within a year.

They will each receive between GH¢500 and GH¢10,000.00 depending on their respective capitals.

MASLOC is a microfinance apex body responsible for implementing the government’s microfinance programmes targeted at reducing poverty, creating jobs and wealth.

It also provides business advisory services, training and capacity building for small and medium scale enterprises (SMEs).

A member of the MASLOC board, Hajia Mariam Sinare, who presented the cheque, appealed to those who would benefit from the loan to pay back on schedule to enable MASLOC to be of service to them.

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The Accra Metropolitan Chief Executive, Mr Alfred Okoe Vanderpuije, cautioned traders to avoid using  fire disasters as an excuse to hawk on the streets.

The Vice-President of the Market Women’s Association, Madam Hilda Koshie Koranteng, who received the cheque on behalf of the traders,  thanked the management of MASLOC for the support and pledged that the traders would fulfil their part of the bargain by repaying the loan.

By Sarah Mensah/Daily Graphic/Ghana