MASLOC disburses more than GH¢0.8 m to traders in Ashanti Region

Microfinance and Small Loans Centre (MASLOC) has disbursed a total of GH¢829,600.00 to women traders in 11 constituencies of the Ashanti Region to expand their businesses.

Specifically, the beneficiaries are from Adansi Asokwa, Obuasi East, Obuasi West, Adansi Akrofrom, Offinso North, Offinso South, Ashanti Akim North, Suame, Tafo, Sekyere Afram Plains and Atwima Kwanwoma

According to a GNA report, a total of 66 groups, made up of 1,641 received the amount.

MASLOC, as a microfinance apex body, is responsible for implementing the Government of Ghana’s (GoG) microfinance programmes targeted at reducing poverty, creating jobs and wealth.

The government, through MASLOC, is empowering Ghanaian women in the informal sector of the economy by assisting them with the lowest interest rate of two per cent. It serves as a revolving fund because of its limited resources.

Addressing the beneficiaries, Mr. Daniel Axim, the Operations Manager of MASLOC, entreated them to use the loans for the intended purposes so that they could pay back on time for others to also benefit.

The loan facility, Mr. Axim explained, was in line with the Government’s efforts to reduce poverty and empower Ghanaian women in their respective communities across the country and urged them to make judicious use of the facility.

The beneficiaries of the facility went through an assessment procedure before they were considered and they would pay back the loans in six months.

MASLOC, over the years, has modestly established itself as a microfinance institution that disburses micro and small loans to the identified poor in the various sectors of the Ghanaian economy.

They have also provided business advisory services, training and capacity building for small and medium scale enterprises (SMEs) as well as collaborating institutions, to equip them with the required skills and knowledge in managing their businesses efficiently and effectively.