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Business News of Wednesday, 15 June 2016

Source: GNA

MASLOC disburses loans to traders in Volta Region

The Micro Finance and Small Loans Centre (MASLOC) has disbursed flexible loans totaling GHC635,900.00 to 2,035 women who are predominantly traders in the Volta Region.

The fund is to empower them to step up and expand their businesses to relieve them of poverty related issues.

Mrs Sedina Tamakloe Attionu, Chief Executive Officer of MASLOC, who led the team to the region said the disbursement would cover beneficiaries in Ho Central, Worawora, Jasikan, Hohoe, Anloga, Keta, Agortime, Kpando and Nkwanta South.

The beneficiary groups are; Amenueve, NTIFAFA Association of Ghana, Mesiwotso, Zongo, and Dodzi.

According to Mrs Attionu, the beneficiaries would be expected to pay back the loans within six months to be recycled for disbursement to others.

She said women contribute immensely to the development of the country and her outfit would therefore support them to lift up their businesses from their current levels.

The Chief Executive Officer said President Mahama had beefed up MASLOC to ensure that it supports women particularly with small scale microfinance loans to expand their enterprises.

She said beneficiaries throughout the country now understand that MASLOC loans are not political handouts but support to improve their businesses and enhance their livelihood.

The Chief Executive Officer said on account of the constant educational programmes on repayment, their loan recovery rate had risen to 67 per cent.

Mr Benjamin Kpodo, Member of Parliament for Ho Central, commended the management of MASLOC for transforming the lives of Ghanaian women and appealed to the beneficiaries to make judicious use of the money.

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