Politics of Tuesday, 10 July 2012

Source: The Catalyst

NDC’s 85% loan recovery rate as against NPP’s 10%

Mills’ MASLOC Give-Out 1,000 Cars & 1.000 Outboard Motors In 3 Years

In tackling the issue of poverty reduction and bettering the lot of the people of Ghana in the ‘Better Ghana Agenda, the Mills-led National Democratic Congress (NDC) government, between 2010 and 2012, has through the Micro-Finance and Small Loans Centre (MASLOC), made available to members of the public 1,000 cars and is in the process of releasing 1,000 outboard motors to fisher folk along the coast of the country in vehicle loans. Also, MASLOC has given out various sums of cash loans to qualified Ghanaians.
The Catalyst has also learnt that within the period, MASLOC has made a remarkable record of 85% loan recovery rate as against the dire situation prevailing under the past New Patriotic Party (NPP) government where it could only manage a paltry 10% loan recovery achievement due to the heavily politicised conduct of its operations.
The paper has learnt that due to the haphazardly manner in which car and vehicle loans were giving to NPP party apparatchiks under the NPP government, the current management is finding it difficult to chase defaulters of these loans, most of whom have no clear-cut records on the transactions to enable the state micro finance institution go after them.
Despite recent attempts by NPP sponsored newspapers to cast doubts on the integrity and professionalism of Madam Bertha Ansah-Djan, the President Mills-appointed Chief Executive Officer (CEO) of MASLOC, it has come to light that it is as a result of her hard work together with her management, which has instilled a sense of professionalism and discipline in the staff to conform to best practices, that MASLOC has chalk its current unprecedented success.
The Public Relations Officer (PRO) of MASLOC, Mr Mustapha Abubakar told The Catalyst in a telephone interview that Madam Bertha Ansah-Djan has made sure that only qualified applicants for loans, irrespective of party affiliation, were considered. “The loans are giving to only well-deserving people,” he stressed.
For that matter, the PRO said since she took over the management of MASLOC, she has set a rigorous but efficient procedure in place and only those who successfully go through the mill are granted loans at a very low interest rate of 2% per month.
Elucidating, Mr Abubakar said an applicant first needed to put in an application at MASLOC, which are shortlisted after which applicants are invited for interview. Added to that, those who pass the interview would have to present a worthy guarantor and also, addresses of applicants and guarantors are crosschecked thoroughly to ensure that defaulters can be successfully tracked. One is only granted a loan after meeting all these requirements.
He said between 2010 and 2012, MASLOC has given out 1,000 cars, Hyundai i10s, Hyundai Accents and Hyundai Vernas, which will in the coming days be handed over to qualified drivers who applied for them and went through the procedure successfully.
According to him, even though MASDLOC mad it mandatory for applicants for the Hyundai Vernas to be qualified drivers and belong to a recognised drivers’ union, MASLOC is currently given them additional training in driving to enhance their performance when the cars are released to them.
The PRO also pointed out that the cars are also fitted with tracking device that will make it possible for MASLOC to keep an eye on each car 24/7.
He said the 396 Hyundai Vernas will soon be handed over to the drivers at a ceremony in every region of the country. He expressed the hope that beneficiaries will take good care of the cars so as to enable them go the full hog in order for them to be able to work, make adequate incomes to take care of their families.
Concerning the 1,000 outboard motors, Mr Abubakar said MASLOC is in the process of doing the relevant documentation and sooner than later, they will be handed to fisher folk along the entire coastal belt of the country to enhance their fishing work.
Asked about how MASLOC plans to get back its monies and cars from the defaulters who benefited under the NPP government but are difficult to trace, the PRO said UT Logistics has been engaged by MASLLOC to see if they could help chase them the hard way. He however assured that the Madam Ansah-Djan-led MASLOC management is determined to scoop back to the state the lost monies under the past government.