Business News of 2013-12-19

MASLOC supports Kantamanto fire victims

The Micro-finance and Small Loans Centre (MASLOC) yesterday presented a cheque for GH¢1,465,035 to 800 victims of the Kantamanto fire at the market in response to President John Mahama’s directive.
In all 2,000 people were assessed out of which 800 were selected to benefit from the gesture.
The repayment period is one year with a moratorium of two months for the traders.
Following the fires that ravaged the markets in the country, the President made a promise to support the traders to make life bearable for them and their families.
Presenting the cheque, the Chief Executive Officer of MASLOC, Mrs Sedina Tamakloe-Attionu, asked the beneficiaries to put the loans to good use and pay back promptly to enable other members to benefit.
She said their ability to pay on time could allow them to benefit from future opportunities.
Mrs Tamakloe-Attionu announced that the centre had for the past four months made a loan recovery of 62 per cent and urged all beneficiaries to pay back on time.
“We want to improve our recovery rate from the present status to about 99.5 per cent. It is only by this that we can sustain the programme,” she said.
She denied claims that the centre was for government sympathisers and faithful, saying “MASLOC?is for all Ghanaians”.
The Greater Accra Regional Minister, Mr Julius Debrah, thanked the traders for their patience and said President Mahama, knowing the value of the traders, had set aside a fund to support SMEs.
Dwadifo Adanfo has been tasked by the centre to do the disbursement and collection on behalf of MASLOC.
Present at the ceremony were the Board Chairman of MASLOC, Col Kaku Korsah (retd), and the Chief Executive of Dwadifo Adanfo Micro-finance Company, Mr Charles Amonoo.
In a related development, MASLOC last Tuesday presented 15 taxicabs to the Western regional branch of the Ghana Private Roads Transport Union (GPRTU) of TUC.