Business News of 2014-05-28

MASLOC gives tricycles to youth in N/R

The Micro Finance and Small Loans Centre (MASLOC), on Tuesday presented tricycles to selected youths in the Northern Region as part of measures of creating jobs in the transport industry.

The tricycles, which were given to the beneficiaries at the cost of GH12,800 to be repaid in four years time, would be used as taxis to help reduce the transportation difficulties in the Tamale Metropolis.

Mrs Sedinam Tamakloe Attionu, Chief Executive Officer of MASLOC, who presented the tricycles in Tamale, said the scheme was aimed at empowering the people through skills acquisition and credits to fund businesses, and advised beneficiaries to work harder to repay the loans on time.

She said the 48 months for the repayment was enough and that many other people had also been supported with taxi cabs and tractors to boost their economic ventures.

Mrs Attionu observed that it was the responsibility of the government to create livelihoods for people hence the initiative to reduce dependencies in society. Alhaji Limuna Mohammed-Muniru, Northern Regional Minister, commended MASLOC for the intervention and urged the beneficiaries not to see the gesture as a political gift but rather take advantage of it to improve their economic fortunes.

He said MASLOC was one of the social intervention policies initiated by the government to improve the lives of the vulnerable and urged them to use the opportunity to propel their lives.

Alhaji Mohammed Amin, Northern Regional Manager of MASLOC, explained that each of the beneficiaries would pay GH450 monthly for the stipulated period after the initial deposit of GH1,050.

He said the initiative was a pilot project, which started in the Northern Region, noting that, additional 100 of such tricycles would soon be given to other beneficiaries.

Mr Alexander Ayatah, Northern Regional Manager of the National Road Safety Commission, advised the beneficiaries to abide by road safety regulations as they use the tricycles, noting that, the region recorded 167 deaths through road accidents in 2013.

He said 29 persons also died in the first quarter of 2014, with others sustained injuries and stressed, that tricycles is supposed to carry only four persons and urged users to adhere to the number of passengers allowed.

Source: GNA
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