MASLOC Impacting Lives After 16-years
The Microfinance and Small Loans Centre (MASLOC), one of the pro-poor policy initiatives of government under the Office of the President is still vibrant and touching lives, 16years after its creation.
The strategic institution, established on 6th September, 2006 and turned 16years, Tuesday, has been the backbone of the Ghana’s Socio-economic development – by providing financial assistance to Small and Medium Enterprises (SMEs) and individuals to expand their businesses.
Currently being headed by Mrs. Abibata Shanni Mahama Zakariah as its Chief Executive Officer (CEO), the Institution continues to touch lives, by reducing poverty through loan support for the marginalized.
It was commissioned by the former President of Ghana, John Agyekum Kufuor, in September, 2006.
But after 16years down the line, Management in a short message sighted by The Anchor said, “This milestone is worth celebrating and we say Ayeekoo to the Founder and the Leaders of the land”.
MASLOC has provided Microcredit and Small Loans to start-ups and small businesses with fast, easy and accessibility Microcredit and Small loans to grow and expand their businesses.
With over 182, 328 clients nationwide, MASLOC, which has offices in all the 16 regions and can be accessible in all the 228 districts, disbursed a total of over GH₵228million loans, as its key achievements.
Its key supporting areas include; women empowerment, youth support through entrepreneurship, support for the physically challenged, as well as, Agro-based industry support.
Under Women empowerment, management explains that “women particularly benefit [from] funds as loans from MASLOC. MASLOC service leads to women’s empowerment by positively influencing women’s decision-making power and enhancing their overall socio-economic status”.
In the area of youth support, it said, “MASLOC supports the Youth through job-Creation and entrepreneurship at the earlier stage of the larger population. MASLOC are committed to the Youth Social Entrepreneurship Support Programmes: Distribution of Hair Dryers, Sewing Machines etc.”
For the physically-challenged, according to MASLOC, “Many of the disabled people are unable to meet the selection criteria of the providers. Lack of sufficient start-up capital, credit history and being unable to produce the collateral required are limitation of the physically challenged clients”.
Whereas in the area of Agro-based; “MASLOC support Agro-based industries, by making provision of credits to farmers. It is the best remedy to complement the on-farm and the off-farm income of smallholder farmers, to enhance food production”.