Business News of 2014-01-23

MASLOC disburses GH¢3m loan to traders

The Micro-finance and Small Loans Center (MASLOC) disbursed more than 3 million Ghana as loans to traders in Brong-Ahafo Region in 2013, Madam Sedina Attionu Tanakloe, Chief Executive Officer disclosed on Tuesday.
She said beneficiaries were mostly traders in pottery in agricultural production comprising 7,400 females and 517 males.
Madam Tanakloe disclosed this when she paid a courtesy call on Mr Justice Samuel Adjei, Deputy Brong-Ahafo Regional Minister in Sunyani as part of her familiarization visit to the region.
She re-affirmed that MASLOC remained non-political institution and called on small scale businesses especially market women and taxi drivers to apply for the facility to enable them expand their businesses for poverty reduction.
Madam Tanakloe said GH¢3,116,000 were given out as group loans while individual loans amounted to GH¢ 163,200.
She noted that the center’s recovery rate was not the best and entreated beneficiaries to pay back on schedule in order not to be prosecuted.
Madam Tanakloe appealed to the Regional Coordinating Council to help the center to acquire land for the construction of its regional office in Sunyani.
Mr Adjei commended MASLOC for its operation and support to small scale businesses in the region and was optimistic that more traders in the region would benefit from the facility.
The MASLOC CEO later visited the gari processing factory at Bechem in Tano South and the Tanoso pottery factory at Tanoso in Tano North District of the region.