Business News of Friday, 14 July 2017
The Microfinance and Small Loans Centre (MASLOC) says it intends expanding its frontiers to cover virtually every corner of the country.
To this end, the microfinance apex body plans to set up offices in each district to interface better with Ghanaians by the year 2020.
“By the end of the year, we want to extend our operations to about 70% of districts in the country with well-established offices in each district…and by 2020, MASLOC intends to have an office in each district in the country….this will also allow our clients and potential clients have swift access to the center,” Deputy Chief Executive, Maame Afia Akoto, told the media in an interview on the sidelines of a tour to the Northern Region sector of the country this morning.
While conceding that MASLOC’s 1-District 1-office initiative is a bold operation, she was of the firm belief that it will help in the better disbursement and recovery of loans by the centre.
Touching on the report that over GH¢100 million loans given to customers are yet to be paid back, Maame Afia Akoto revealed that the centre will consider the option of publishing names and pictures in the print media, of those who accessed loans but have defaulted in repaying.
She reiterated earlier comments by the Chief Executive Officer of MASLOC, Mr. Steve Amoah, that the growth of the centre has stunted due to the failure by customers to settle their indebtedness.
MASLOC is an organ of state responsible for implementing the Government of Ghana’s (GoG) micro finance programmes targeted at reducing poverty.
It provides micro and small loans for start-ups and small businesses with fast, easy and accessible micro credit and small loans to grow and expand their businesses as well as to enhance job and wealth creation.
With a commitment to growing and developing small and micro businesses through the provision of sustainable microfinance, small loans and business services to Ghanaian entrepreneurs, the centre has created employment by empowering some individual drivers who belong to unions, with a work-and-pay package which allows them to become car or tricycle owners after a four-year period.
MASLOC has also over the years helped poultry farmers to boost the production of broilers, layers, turkeys, guinea fowls, ducks, among others, by providing them with the financial support needed.