MASLOC Starts Operation In B/A

Space FM, Sunyani, August 6- The Brong Ahafo Regional Coordinator of the Micro Finance and Small Loan Center (MASLOC), Mr. Forson Osei Bonsu, has urged District Coordinators and other officers of the Center to execute their duties with dedication, enthusiasm, honesty and professionalism to ensure the success of the scheme.

He said the objective of the scheme, which is to reduce poverty especially in rural areas, would only be achieved with personnel who are committed to their work and have the conviction that they are part of solving the poverty problem in the country.

Mr. Osei Bonsu said these when he introduced six district coordinators to the District Chief Executives of the Asutifi, Asunafo North and Asunafo South respectively.The regional Coordinator appealed to the District Coordinators to treat clients with care at all times.

Mr. Osei Bonsu said the target group of the scheme is the productive poor and that the MASLOC seeks to empower those in that category financially in the short term adding that those engaged in petty trading, farming and sale of farm produce with added value, are also to be considered.

He explained that individuals, groups and businesses are eligible to apply for loans between ¢10 million and ¢250 million.Groups should have a minimum of five and maximum of 25 members to access up to ¢250 million. Each member of the group can access ¢10 million refundable within one year with 10% interest.Other categories which can access loans from ¢20 million up to ¢250 million, attract Bank of Ghana's prime interest rate of 12 1/2 % and 15 % respectively.

He added that upon submission of application forms, it would not take more than one month for applicants to access their loans. Mr Osei Bonsu however cautioned previous loan defaulters to settle their debt before they can access MASLOC fund.

The DCE for Asunafo North, Hon. Alhaji Ishak Abubakar Bonsu, commended the government for introducing MASLOC and urged Mr. Osei Bonsu and his staff to manage the center effectively.The DCE again appealed to asemblymembers to assist in educating the public on the fund.

The Asutifi Disrict Chief Executive, Hon. Poku Peprah, appealed for adequate funds for the district because the povery level is high in the area. He pointed out that MASLOC funds are not with DCE's and therefore urged the public not to troop to the offices of DCE's for loans. The distric coordinators who were introduced are, Mr Sarkodieh Richard-Mim, Mr Charles Boateng-Goaso, in the Asunafo North district, Mr. Asamoah Ernest and Boachie Boateng for the Asutifi District and Mr Fred Oware- Kukuom and Mr. Anthony Boachie-Sankorie in the Asunafo South district.