….As CEO Supervised Disbursement Of GH¢261,800
By Sir William Sarpong
In line with President John Dramani Mahama and the NDC Government’s transformation agenda to better the lives of women and reduce poverty, create jobs and wealth, the Chief Executive Officer of Microfinance and Small Loans Centre (MASLOC), Mrs.Sedina Tamakloe Attionu has personally supervised the disbursement of GH₵261,800 to
457 women from 20 groups in the Upper East Region.
Those accompanied the CEO to carry out the disbursement activities include the Head of Operations at MASLOC, Mr. Daniel Axim, the Area Manager of MASLOC in charge of the Northern Sector, Alhaji Mohammed Amin, and Mr. Isaac Arabogo, the Acting Upper East Regional Officer of MASLOC.
The aim of the 3 day official working visit to the Upper East Region by the hardworking MASLOC CEO, Mrs. Sedina Tamakloe is to ascertain for herself the needs and challenges facing women of U/E, encourage them, and also assured them of a brighter future when traded with the soft loan wisely.
Among the towns that the CEO presented checques to women groups included, Bawku, Zebilla, Bolgatanga, Navrongo and Sandema.
Addressing the beneficiary groups, Mrs. SedinaTamakloeAttionu, said President Mahama, have the interest of women at hart, and have tasked MASLOC to help improve their businesses sincethey are the backbone of Ghana’s economy.
She disclosed that women in Ghana works harder than men, hence the need to support them cater for their families mentioning that President John Dramani appreciate the contributions of women towards the development of the nation.
Mrs. Sedina Tamakloe further indicated that because President Mahama knows the ordeal women goes through, he has assured to improve their conditions for the better.
She therefore entreated the beneficiariesto invest the loan wisely, so that they would be able to repay on time for others to also benefit.
Meanwhile, MASLOC apart from disbursingmonies tofresh beneficiaries, alsoconsider andgave a repeat loan facilities to those who show commitment in terms of repayment.
Mrs. Sedina, however, appealed to beneficiaries try as much as possible to save part of their profit, so that they can use it as their base capital without always depending on loans to expand their businesses.
She again urge the beneficiaries to suspend purchasing funeral cloths and other items at the expense of their loans and concentrated on their business for it to grow, added that it is after becoming financially sound that they can do whatever they want to do.
As customs demand, Mrs. Sedina Tamakloe and her team before embarking on their assignment paid a courtesy call on both the Upper East Regional Minister and Bolga Naba respectively.
The beneficiaries of the soft loans express their sincere gratitude to President John Dramani Mahama and Mrs.Sedina Tamakloe for instituted measures to improve their businesses, but urged that more of the loans should be available for other women to benefit from it.
MASLOC has established itself not only as a microfinance institution that disburses micro and small loans to the identified poor in the various sectors of the Ghanaian economy, but also provides business advisory services, training and capacity building for small and medium scale enterprises (SMEs) as well as collaborating institutions, to provide them with the required skills and knowledge in managing their businesses efficiently and effectively.
MASLOC aimed at empowering the people through skills acquisition and credits to fund businesses, Under the micro-credit scheme, the main beneficiaries are groups/cooperative societies, each consisting of a minimum of 5 and a maximum of 25 members.
In the case of the small or individual loan scheme, an individual can access a minimum loan of GHC1, 000 and a maximum of GHC10, 000.
Due to the excellence performance and good measures put in place by the current CEO, Mrs. Sedina Tamakloe Attionu MASLOC has increases its recovery rate from 61.70 percent to about 80 to 85.
MASLOC remains the lowest in terms of interest charge on loans. It charges 2 percent interest a month or 24 percent per anum on all loans as compared to 72 percent interest charged by some microfinance companies and the 30 to 36 percent of banks.