MASLOC Disburses Loans To Market Fire Victims In Western Region

Hajia Abibata Shanni Mahama Zakariah, Hon. Mireku Duker and some of the beneficiaries.


THE MICRO Finance and Small Loans Centre (MASLOC) has disbursed group loans to some seventeen market groups in the Western Region.

The disbursement exercise, which took place on Wednesday and Thursday in Takoradi and Tarkwa respectively, saw 100 beneficiaries in Takoradi and 227 beneficiaries in Tarkwa receive support for their businesses.

Speaking on the occasion, CEO of MASLOC, Hajia Abibata Shanni Mahama Zakariah,said the Takoradi market fire which razed down over 100 shops about six months ago, affected the businesses and livelihoods of the market women for which reason MASLOC has come to assist them with loans.

Ms Abibata Zakariah said MASLOC had to increase the number of beneficiaries from an initial 50 individuals to 100 in order to assist them revamp their businesses.

Beneficiaries who received amounts ranging from a GH¢1,000 to GH¢2,000 expressed their willingness to repay these loans in order to access an increased amount in future disbursements.

Engaging beneficiaries in Tarkwa, the MASLOC CEO stated that the market women were a very strategic component in driving the economy and that there was always a need to support them with such loans to help boost their business.

Ms. Zakariah urged beneficiaries to make a concerted effort to repay the loans since this would contribute to the overall goal of sustaining MASLOC’s revolving funds.

She emphasized that the institution’s loans are distributed to Ghanaians between the ages of 18 and 65 who qualify for micro loans to support their businesses.

MASLOC’s Regional Manager, Malik Botwey, went on to say that MASLOC had taken steps to fully orient the market women on the terms of the loan and called on the beneficiaries to repay their loans in order to help them access higher amounts in the future.

Member of Parliament for Tarkwa Nsuaem Constituency and Deputy Minister of Lands and Natural Resources, George Mireku Duker, expressed gratitude to MASLOC for disbursing these loans to beneficiaries in his constituency.

He also asserted that he would assist in sensitising beneficiaries to repay the loans on time so that the disbursements could be extended to many more people in the future.

Mr. Duker also informed the CEO of MASLOC that he has submitted an application for support through the institution’s hire purchase scheme items such as sewing machines, hair dryers, and saloon cars for the youth in his constituency who meet the eligibility requirements.

The disbursements in Takoradi and Tarkwa, which form part of a series of upcoming disbursements, was attended by Paul Sarbeng, Deputy CEO for Operations and Kwabena Asamoah, Deputy CEO for Finance and Administration, as well as Issah Iddrisu Amadu, Head of Credit.

A business desk report

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