Beneficiaries of MASLOC loans urged to undertake viable ventures

Mampong-Ashanti, July 17, GNA - Mr Lawrence Kwasi Prempeh, Chief Executive Officer of Microfinance and Small Loans Centre (MASLOC) has called on beneficiaries to venture into profitable ventures. He said this would enable them to repay the loans promptly to enable other small scale entrepreneurs to benefit. Mr Prempeh made the call when launching the scheme at Asante Mampong under the theme "A New Approach to Economic Empowerment through Microfinance".

Payment order for 300,000 Ghana cedis was presented to 1,700 beneficiaries from 10 districts in Ashanti Region. The districts were Effiduase-Asokore, Kumawu, Asante Akim South, Kwabre East and West, Afigya-Sekyere East and West, Ejura-Sekyedumase, Nsuta-Kwamang and Mampong.

Mr Prempeh noted that the development of every nation depended on small scale entrepreneurs and industrialists and pledged Government's commitment to support them in diverse ways to contribute their quota to the country's socio-economic development. He urged members of beneficiary groups to be honest and sincere with the loan to improve their living standards, adding" The facility is available to people prepared to work to improve their living standards and not based on political affiliations." Mr Rockson Kofi Agyekum, Mampong Municipal Chief Executive said the loan was to enable the beneficiaries expand their business and make profit to ensure prompt payment for others to benefit to reduce poverty.

He explained that the loans were not free or gifts but were channelled through the banks that would monitor their performance and repayment. Mr Agyekum appealed to the beneficiaries to show appreciation to the government and urged them to register when the Voter's register was opened to vote massively to retain the NPP in power. Nana Agyeman Badu, Gyasehene of Asante Mampong Traditional Area appealed to the beneficiaries to utilise the loans well to encourage the government to provide more assistance to other beneficiaries to improve their living standards. He advised members of the beneficiary groups to meet regularly to discuss on their business activities to learn from each other to improve on their performance.