MASLOC targets 84% loan recovery by 2024

Beneficiaries of MASLOC slow to pay back loans

MASCLOC to target market women

MASLOC threatens court action for loan recoveries

The Microfinance and Small Loans Center (MASLOC) has disclosed plans aimed at stepping up efforts to recover loans taken by beneficiaries.

According to the Chief Executive Officer of MASLOC, Hajia Abibata Shanni Mahama Zakariah, her outfit plans to recover about 84 percent of loans by 2024.

In an interaction with Accra-based Asaase Radio, the MASLOC boss said it has thus far implemented a number of inventive packages to ensure staff of the center achieve their target.

“I am hoping that by 2024 MASLOC should be able to recover about 84% of funds that have been loaned out. MASLOC in the past has only relied on government funds but going forward, we are looking at other avenues for funds,” Hajia Zakariah is quoted to have said by Asaaseradio.com

She further lamented the slow pace of loan recoveries from beneficiaries across the country.

“People take MASLOC loans and they feel reluctant to pay…we do not want to resort to court proceedings and so people must settle their loans as and when,” she bemoaned.

“Going forward, our attention will be on the market women because their recovery rate is very good,” the MASLOC boss added.