MASLOC Disburses Loans To Market Fire Victims

The Micro Finance and Small Loans Centre (MASLOC) has disbursed soft loans to some 17 groups in the Western Region.

The disbursement exercise, which took place on Wednesday 25 and Thursday, October 26, 2022, in Takoradi and Tarkwa respectively, saw hundreds of individuals benefiting from the exercise.

At Takoradi,about 100 beneficiaries received the loan, while at Tarkwa about 227) people receivedthe fund in support of their businesses.

Speaking on the sideline of the exercise, the Chief Executive Officer of (CEO) of MASLOC, HajiaAbibataShanni Mahama Zakariah, expressed sympathy with the beneficiaries, many of whom were victims of the Takoradi makeshift market fire incident that razed down over 100 shops, six months ago.

She noted that, the incident has had a significant impact on the businesses and livelihoods of these market women, hencethe need for the disbursement to cushion the victims.

Madam AbibataZakariahsaid, due to the unfortunate situation, she had to increase the number of beneficiaries from an initial 50 individuals to 100 to assist them revamp their businesses.

Beneficiaries who received amounts ranging from a GH₵1,000 to GH₵2,000 expressed their willingness to repay the loans in order to benefitmore in future disbursements.

Engaging beneficiaries in Tarkwa, the MASLOC boss stated that the market women are a strategic component in driving the economy and there is always a need to support them with these loans to help boost their businesses.

Madam Zakariah also used the occasion to urge all beneficiaries to make a concerted effort to repay theloans which will contribute to the overall goal of sustaining MASLOC’s revolving funds.

Addressing the media, she emphasized that the institution’s loans are distributed to Ghanaians between the ages of 18 and 65 who qualify for micro loans to support their businesses.

On his part, the Western Regional Manager, Malik Botwey, said they had taken steps to fully orient the market women on the terms of the loan.

Meanwhile, the Member of Parliament (MP) for Tarkwa Nsuaem 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 sensitizing beneficiaries to repay these loans on time so that these disbursements could be extended to many more people in the future.

The MP also informed the MASLOC boss that he has submitted an application for support through the institution’s hire purchase scheme for items, such as sewing machines, hair dryers and saloon cars, for the youth in his constituency who meet the eligibility requirements.

The disbursements in Takoradi and Tarkwa form part of a series of upcoming disbursements to be rolled out.

Accompanying the CEO during the exercise were the Deputy CEO in-charge of Operations, Paul Sarbeng; the Deputy CEO responsible for Finance and Administration, Kwabena Asamoah, and ssahIddrisu Amadu, the Head of Credit.

Source: Anchorghana

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