MASLOC Disburses Gh₵1.7million Group Loans
A total of 34 trader groups in the Ashanti Region have received soft loans, totaling GH₵1.7million from the Microfinance and Small Loans Centre (MASLOC) to help sustain their small businesses.
The disbursement, which took place at Jubilee Parkin Kumasi, the regional capital, last Thursday, September 22,reacheda total of 1,425 beneficiaries, made up 34 groups, with each group having 25 members.
Speaking at the event, HajiaAbibataShanni Mahama Zakariah, the chief executive officer of MASLOC, promised the gathering that she would keep up the region’s tradition of empowering women.
She stated that, given the current state of the economy, extending the repayment period from six to 12 months at a rate of 12 percent annuallywill help the beneficiaries repay their loans effectively.
Encouraging the beneficiaries after receiving the loans, the MASLOC boss indicated that, if they are able to complete their scheduled repayment as required, her outfit will also consider increasingeach beneficiary’s amount from GH₵2,000 to GH₵5,000.
Hajia Zeinab Sallaw, the Ashanti regional manager at MASLOC, also added that the decision to boost disbursement this year was motivated by former beneficiaries’ ability to repay the loans that were granted to them in the past.
The MASLOC’s regional manager, who was impressed with the traders in the region, entreated all beneficiaries to be committed to repaying their loans.
Hajia Zeinab explained that, the disbursed amounts have been reviewed from a GHc1,000 toGHc2,000this year to further help impact and improve their businesses.
In attendance were Bernard Antwi Boasiako, NPP Ashanti regional chairman, Nana AmaAmpomah, NPP regional women organizer and other government functionaries in the region.
MASLOC has been providing microcredit and small loans to start-ups and small businesses with fast, easy and accessibility 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.