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Business News of Saturday, 1 December 2007

Source: GNA

5,000 SMEs to benefit from MASLOC

Kumasi, Dec. 01, GNA - About 5,000 Micro and Small-Scale Enterprises (SMEs) and entrepreneurs in Ashanti Region would benefit from loans under the Micro-Finance and Small Loans Centre (MASLOC) The beneficiary SMEs out of the 20,000 applicants would be granted 2,000 Ghana cedis.
Mr Lawrence Akwasi Prempeh, Chief Executive Officer of MASLOC, announced this at the launching of Ashanti Regional branch of MASLOC in Kumasi on Friday.
The launching was under the theme: "A New Approach To Economic Empowerment Through Micro-Financing." Government established MASLOC last year to manage micro finance schemes introduced under Ghana Poverty Reduction Strategy (GPRS) II to boost the private sector with adequate credit facilities to small-scale entrepreneurs.
Mr Prempeh noted that government's policy on Golden Age of Business would be a mirage when the private sector that remained the backbone of the nation's economy was not adequately resourced. He said MASLOC had 450 personnel nation-wide to advise and sensitise applicants. Mr Osei Assibey Antwi, Deputy Ashanti Regional Minister, pledged government's commitment to institute measures to improve on the living standards of the people.