The Chief Executive of MASLOC, Abibata Zakariah, has reaffirmed the organisation’s dedication to its goal of assisting in the advancement of micro business in the country.
Speaking at a group loan disbursement on Thursday, she said despite the nation’s ongoing economic problems, the organisation has still been able to raise funds totally ₵1.7 million to help small businesses and beneficiaries better their standard of living, further demonstrating its commitment to improving people’s lives.
In order to help beneficiaries, repay these loans, Madam Zakariah stated that the institution has changed the payment tenure from six to 12 months in response to the prevailing economic climate she stressed.
“The decision to start with the Ashanti Region in the disbursement of the group loans was as a result of the efficient repayment rate of beneficiaries and she will be encouraged to consider reviewing further the individual amount from 2000 Ghana cedis to 5000 Ghana cedis if they are able to repay effectively and promptly all their scheduled disbursements as required,” she said.
The CEO reaffirmed that MASLOC has been the foundation of Ghana’s socio-economic development over the past 16 years by giving loans to individuals and Small and Medium Enterprises (SMEs) so they can grow their businesses and improve their lives.
In its 16 years of existence, MASLOC has complimented governments’ efforts to adopt pro-poor programs aimed at eradicating poverty.