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Business News of Monday, 26 October 2015


MASLOC extends credit facility to queenmothers, market women

The Microfinance and Small Loans Centre (MASLOC) has extended its flexible credit facility to queen mothers engaged in various businesses in Kumasi.

A team from the centre led by the Chief Executive Officer (CEO), Mrs Sedina Christine Tamakloe-Attionu, was in Kumasi at the weekend to disburse GH¢130, 000 in soft loans to the beneficiaries to enable them expand their individual businesses.

Twelve groups of queen mothers engaged in various trading activities in the metropolis benefitted from the facility.

Mrs Tamakloe-Attionu was impressed that the queenmothers decided to enter into various income-generation activities instead of depending on resources of their traditional areas to make a living.

She expressed the hope that the beneficiaries will put the money to profitable use to enable them to repay the loans.

The leader of the Queenmothers Association in Kumasi, Nana Agyakoma Difie II, thanked the government and MASLOC for the support. She gave an assurance that the beneficiaries will repay the loans as scheduled.

Nana Difie, who is also the queenmother of Asante Mampong, urged her colleagues to put the money to profitable use.

Later, the team visited the Western Region, where similar disbursement totaling GHc293,100 was made to market women in the Sefwi-Wiawso municipality, Shama and Esikado in the Sekondi-Takoradi metropolis.

Women groups that benefitted included Unity Traders Association, Nyamebekyere Traders Association, Bakers Association, Vegetable Farmers Association, Tomatoes Sellers Association, and Second-Hand Clothes Sellers Association, all in the Sefwi-Wiaso Municipality.

Others were, Shama Women Association, Second-Hand Shoe Sellers Association, and Essikado- Ketan Women Group. The team also took time to visit some MASLOC-supported businesses in the Sefwi area to ascertain their progress.

One of the businesses was Casty Farm, a poultry and fish farming project in the Sefwi Wiawso municipality. The owner of the farm, Mr Benjamin Baffoe-Bonnie, said he was grateful to MASLOC for the support, which had made the farms develop at a fast rate.

Speaking in an interview, Mrs Tamakloe-Attionu expressed satisfaction about the progress made by Casty Farms. She said the decision to visit those areas herself was for her to be acquainted with the situation on the ground.

The CEO told the various women groups that President John Dramani Mahama, had recognised the roles and contributions of women in the society, as well as their impacts on the economy and for that matter, he was determined to support their business activities to thrive .

The CEO of MASLOC was accompanied by the Head of Operations, Mr Daniel Axim, the Media Liaison Officer, Ms Fadila Mumuni, and the Western Regional Manager of MASLOC, Mr Joseph Akosah.