MASLOC Is Committed To Pro-Poor Policies And The Marginalized – Says CEO
Madam Hajia Abibata Shanni Mahama Zakariah, the Chief Executive Officer (CEO) of the Microfinance and Small Loans Centre (MASLOC), has assured that the centre, under her leadership, is committed to its core mandates of assisting the marginalized in society and advancing pro-poor policies.
According to Hajia Zakariah, despite the ongoing economic challenges across the globe, the MASLOC continues to raise funds to help small businesses to cushion their standard of living.
She said the MASLOC, as a critical institution, has been the foundation of the country’s socio-economic development over the last 16 years by giving loans to individuals and Small and Medium Enterprises (SMEs) so they can grow their businesses and improve lives.
The MASLOC boss made the remark during a recent group loan disbursement to 1,425 beneficiaries, made up of 34 groups, in Kumasi, the Ashanti Regional capital.
The GH₵1.7million disbursed was meant to help the beneficiaries sustain their small businesses, she explained.
Meanwhile, the CEO said, the decision to start the disbursement in the Ashanti Region was as a result of the efficient repayment rate of beneficiaries, adding that her outfit could consider reviewing the individual amount from GHC2,000 to GHC5,000 if they are able to repay effectively and promptly to meet their repayment schedule as required.
She indicated that, in order to help beneficiaries, repay these loans on time, the centre has changed the payment period from six to 12 months in response to the prevailing economic climate.
In its 16 years of existence, the MASLOC has complemented government’s efforts to adopt pro-poor programs aimed at eradicating poverty.