MASLOC rubbishes claims it is buying 1,800 new cars

General News of Monday, 9 October 2017

Source: citifmonline.com

2017-10-09

Masloc EntranceMicrofinance and Small Loan Center

A former Deputy Chief Executive Officer (CEO) for the Microfinance and Small Loan Center (MASLOC), Mustapha Abubakar, has accused the current management of the centre of procuring about 1,800 new vehicles.

“As we speak, the boss has ordered for 1,800 vehicles. It is being procured from a company called Dextro Impex. If you have vehicles sitting there and you are saying that they are expensive and you cannot give it out to members, how come you are finding money to go and buy 1,800 vehicles of 2011 model to give it out to people,” he insisted on Citi FM’s news analysis programme, The Big Issue on Saturday.

But the current deputy CEO for MASLOC, who was also speaking on The Big Issue rejected the claim saying “it is not true.”

“There is so much debt to be cleared and that is our focus. We have no money and we don’t even have any agreement,” she added.

350 abandoned vehicles

MASLOC is currently in the news for procuring some 350 vehicles meant for drivers belonging to the GPRTU, but were rejected by the union because it was said to be “too expensive.”

MASLOC was established primarily to provide micro and small loans for start-ups and small businesses to enable them to grow and expand.

In the past few years, it has been involved in the sale of cars on credit to individuals and groups including Members of Parliament, musicians and celebrities; however, it is challenged with retrieving the monies owed it.

Some have viewed it as a business that ends up rewarding political party members.

The management of MASLOC has so far confiscated 350 of such vehicles, and is currently in the process of retrieving the monies believed to be over GHc100 million.

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