MASLOC Putting Money In Peoples Pockets


More women groups, continue to benefit from loans from the Micro Finance and Small Loans Center (MASLOC) to improve their livelihood and standard of living.

This arrangement to empower the women with these loans in expanding their small and medium enterprises, according to the deputy Chief Executive officer of MASLOC, is what President John Dramani Mahama, meant when he said he would put money in the pocket of Ghanaians.

The Livelihood Empowerment Against Poverty (LEAP), the Youth Employment Agency and the Youth Enterprises Support (YES) programmes, Mr Mustapha Abubakar, outlined are programmes that, have been instituted by government to put monies in the pockets of Ghanaians, explaining that these are programmes that give Ghanaians loans to do businesses and the profits used to take care of domestic issues.

Speaking at a ceremony to disburse Gh¢53,983,000 to three women groups at Dodetokorpe in the Ada East District of the Greater Accra Region last Friday, the Deputy Chief Executive Officer, explained that the loans are government arrangement through MASLOC to help them start businesses or expand existing ones, and employ people.

The benefits of the loans, Mr. Abubakar, further stressed, opens up economic activities of an area, which goes a long way to attract investors to communities with one tourism potential or the other, urging the beneficiaries to make the best use of the loans, since that is the only means the loans can generate profits.

He charged them to work hard with the money, so as to be able to pay school fees of their children; a proof that they were able to put the money into the intended purposes to prove President Mahama’s assertion correct.

With a membership of 74 , each of the groups, were categorized under names as Amenuveve A,B and C .The A group, received a cheque for Gh¢17,745.00 , the B group, got Gh¢18,135.00 and the C group, was presented with Gh¢15,795.00.

The groups; primarily vegetable farmers have a one-month grace period before starting paying back the loan. They are required settle the debt within six months with a 2 percent interest.

The Deputy Chief Executive, encouraged the women to do well to payback, adding the ability for MASLOC to serve other applicants, depends on the current beneficiaries.

The Member of Parliament (MP) for South Tongu, Mr Kobla Mensah Woyome, who graced the occasion, urged the women to be a shinning example to other women beneficiaries by paying back the loan on time.

On his part, the representative of the groups, Mr. Julius Kwao, expressed his gratitude on behalf of his colleague farmers to MASLOC, promising to pay back the loans as expected.

At a related function last Friday, officials of MASLOC, presented a cheque of Gh¢58,800 to another six women groups in the Ketu South Constituency; a facility that is also to cushion the traders and market women.

The MP for the area, Mr. Fiifi Kwetey, who was present, called on the women to use the loans to show how successful they can be with their business ventures by making the best use of the cash.

Over there, the deputy Chief Executive officer, said the over 120,000 constituents, could not be served at once, but through a gradual process when the current beneficiaries pay back , noting that MASLOC loans, is a revolving fund.

The head of operations at MASLOC, Mr. Daniel Axim, was present to supervise the disbursement.

Prior to the South Tongu and Ketu South disbursements, the CEO for MASLOC, Mrs. Sedina Tamakloe Attionu, presented a cheque of Gh¢73,000 to nine women groups at a ceremony in the North Tongu Constituency, where women in communities such as Fozdoku,Volu and Juapong beneffited.

Three constituencies of the Volta region in one week, benefited alone, while in the Greater Accra region, 288 women at Ngleshie Amanfro, a total of 288 women received an amount of Gh1,135,000 as loans.

Two days later, 100 women from the Odododiodo Constituency benefitted Gh146,200.00, whiles those in the Ablekuma central, numbering 100, also received disbursements to the tune of Gh¢154,700.00 on the same day.

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