Business News of Tuesday, 13 November 2012
The Microfinance and Small Loan Centre (MASLOC) is implementing a comprehensive Enterprise Data Management (DMS) to enable a seamless integration of the organization’s data and record management processes.
The move is to make it easy for beneficiaries of loans to be located and tracked, and to serve as a back-up information in the unfortunate event of the destruction of hard copies.
The Chief Executive Officer of MASLOC, Mrs Bertha Sogah, told Daily Graphic in an interview that the 'revolution' was to enhance an impact assessment programme which would help the government to determine whether its poverty alleviation programme was on track or not.
The digitalization forms part of the policy change and redirection of the organisation, which is to help the government take a second look at areas where money had been spent and possibly to broaden its scope.
Mrs Sogah, who is in her four-year reign as the CEO of the company, has improved the recovery rate of loans from six percent to 80 percent and she’s optimistic that by the end of digitalization system, the situation will further improve.
The project seeks among other things to preserve the security, quality and integrity of information and provide the platform for continuous data capture and analysis.
It is to facilitate the emplacement of all document scanning system to scan existing back log of loan files and supporting documents and a system for scanning future application and loan documentation.
Mrs Sogah is particularly excited because it the technology providing a web-base module for loan management and other specific project management.
When complete, the exercise is to help in the emplacement of internal document access and retrieval system for sharing, managing and storing of loan application data, supporting documents as well as other departmental operation documents.
The first phase of the project is expected to last three months and it will focus on the operation of MASLOC in the Greater Accra Region and the national headquarters.
Subsequently, phases of the project will cover MASLOC preparations spread across the other regions of the country. MASLOC is mandated to hold in trust government funds for the purpose of administering micro and small-scale programmes and it has provided loans for over 100,000 beneficiaries across the country.
Mrs Sogah said attention is being shifted to women because most of them were into ,small businesses and the fact that they were the most vulnerable in society.
Beyond soap making and farming MASLOC is also helping the people in the Volta Region with day-old chicks in poultry farming as part of the poverty alleviation programme.
The organisation will also make available which vaccines, feed, and ready market once they start to lay eggs.
As part of expanding its scope, MASLOC is to redirect its energies into bee-keeping, which is expected to attract a lot of people even within the formal sector of the economy.