Hajia Zakaria (4th left) presenting a loan to a beneficiary
CHIEF EXECUTIVE Officer (CEO) of MASLOC, Hajia Abibata Shanni Mahama Zakariah, has reaffirmed the organisation’s dedication to its goal of assisting in the advancement of micro businesses in the country.
She made this statement during a group loan disbursement to 1,425 beneficiaries made up of (34) groups, each with 25 members in the Ashanti Region recently.
This is to help sustain their businesses while reassuring the beneficiaries that government, through MASLOC, is still for the poor and marginalised in the society.
She continued by saying that despite the nation’s ongoing economic problems, the organisation has still been able to raise funds totaling GH₵1.7 million to help small businesses and beneficiaries improve their standard of living.
In order to help beneficiaries to repay their loans, Hajia Zakariah stated that the institution has changed the payment tenure from six to twelve months at a rate of 12 percent annually in response to the prevailing economic climate.
She continued that “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 GH₵2000 to GH₵5000 if they are able to repay effectively and promptly all their scheduled disbursements, as required.”
The CEO reaffirmed that MASLOC, as a critical institution, 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 business and improve their lives.
With over 182,328 clients nationwide, MASLOC, which has offices in all the 16 regions and can be accessible in all the 228 districts, disbursed a total of over GH₵228 million loans, as its key achievements.
A business desk report