MASLOC Takes Giants Steps In 2015

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By Gifty Arthur

The Chief Executive Officer (CEO) of Microfinance and Small Loan Centre (MASLOC), Mrs. Christine Sedina Tamakloe Attionu, has hinted that the Centre would from next year, employ more innovative ways to recoup funds disbursed to its clients.

Suggesting some innovative ways for the company going into the future, Mrs. Attionu said, the Centre was planning to use the popular MTN Mobile Money Transfer, to recover loans to clients, adding that the “institution of Loan Recovery Unit across the country to [will] intensify loan recoveries”.

According to her, the Centre “intends to increase the number of its district offices and cover the entire country by the end of 2015”.
Mrs. Attionu said this at a Press Soiree on Wednesday, ahead of the Christmas break.

The ex-National Youth Authority (NYA) boss, outlined the many activities organized by the Centre throughout the year.

According to her, since the inception of the Centre on September 6, 2006, it has provided some “GHS153, 118.824, from injected funds and the ploughing back of recovered loan, covering 274,277 beneficiaries, including 185, 717 representing 67.7 per cent females and 88, 560 representing 32.3 per cent males”.

The amount, which was received from the coffers of the Government of Ghana (GoG) was disbursed to clients under the Microcredit and Small Loans, School Feeding Programme and On-lending to Microfinance Institutions (MIs), among others.

In 2015, the Centre, she said would embark on projects that would engage 100,000 young men and women as part of it job creation exercise.
In the coming year also, the MASLOC boss warned that applicants from areas with “poor recovery history”, would be blacklisted until the various debts are fully repaid.

MASLOC, will also partner other agencies both home and abroad, in order to mobilize “loanable funds” so as to diversify, the source of funds, reiterating that the Centre’s quest to become a microfinance bank in the future.

In what sounded like a very busy year for the Centre, Mrs. Attionu told the gathering, which included Members of the MASLOC Board of Directors that in 2015, “the Centre shall collaborate with other social intervention institutions such as the Livelihood Empowerment Agency Poverty (LEAP)”.

Others collaborators will be, “the Labour-Intensive Public Work (LIPW), Local Enterprises and Skills Development (LESDEP), Ghana School Feeding Programme (GSFP) and the controversial Ghana Youth Employment Entrepreneurial Agency (GYEEDA)”.

There were concerns about the inadequate logistical support hindering the quest of officers to visits clients in the rural communities.
MASLOC established to assist government of Ghana to reduce poverty by providing financial assistance especially to persons who cannot assess conventional financial institution like the banks, provides products such as microcredit or group loans, small loans, wholesale lending and special projects which can be classified as social interventions.

It has special interest in primary production (eg. Farming, fishing, mushroom farming, animal rearing), value-added production (eg cottage industries, fruit processing, palm oil extraction), microenterprise operation, etc.

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