MASLOC – Women Groups Undergo Continuous Assessment

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The management of Micro-finance and Small Loans Center (MASLOC) continues in earnest, the assessment of women for the disbursement of loans to women groups, who are into micro and small scale businesses, as part of its mandate.

The exercise, which forms part of an ongoing programme across the country, was led by the Head of Operations at MASLOC, Daniel Axim.

Over Two hundred (200) women groups from Dome, Kwabenya, Haatso and Taifa, were assessed and taken through the process of securing loans.

The ongoing exercise, according to management, forms parts of government’s social intervention efforts to empower women in society.

Addressing the women during the assessment exercise, the traders, were tasked to pay back the loans on time, as the scheme was a revolving fund only given to them as a startup capital for their businesses, and should be refunded early to enable others to also benefit.

Mr. Axim, reiterated the need to form groups, get a name for the group and appoint leaders for the groups to make work easier and faster for processing of the loans.

He also stressed on the need for the traders to use the loan for its intended purpose of doing business.

The Greater Accra regional Manager of MASLOC, Shadrack Quarcoo, took traders through the assessment process by explaining to them, the need to come with two passport pictures, valid ID and a guarantor as parts of the requirements.

He also explained that, interest rate for MASLOC loans was just two per cent a month with a processing fee of 2.5 per cent with a 6-month repayment period.

Ghana’s Ambassador to Czech Republic, Madam Zita Okaikoi, who was present during the exercise, commended the CEO of MASLOC, and the team for having Ghanaian women at heart, and the good work being carried out in transforming the lives of citizenries.

The leaders on behalf of the traders, thanked the CEO of MASLOC and her team for considering them for the loan and promised to pay back the loan on time for others to benefit.

MASLOC, over the years has supported many clients in the informal sector, who are predominantly traders to enable them expand their businesses to boast their livelihood.

It has also improved its recovery rate in recent times too.

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