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MASLOC disburses micro-credit loans to market fire victims, other market women in Western region

About seventeen organizations in the Western Region have received group loans from the Micro Finance and Small Loans Centre (MASLOC). One hundred beneficiaries in Takoradi and two hundred and twenty-seven beneficiaries in Tarkwa, respectively, received help for their companies during the payout procedure, which took place on Wednesday and Thursday.

Abibata Zakariah, CEO of MASLOC, spoke at the event and expressed compassion for the recipients, many of whom had lost their stores in the Takoradi temporary market fire six months before. Masloc disburses micro-credit loans to market fire victims, other market women in Western Region She noted that the incident has had a significant impact on the businesses and livelihoods of these market women thus necessitating the need for the disbursement of these Group loans. Madam Zakariah went on to say that due to the situation described above, she 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 ₵1,000 to ₵2,000 expressed their willingness to repay these loans in order to access an increased amount in future disbursements. Engaging beneficiaries in Tarkwa, CEO of MASLOC stated that the market women are a very strategic component in driving the economy and there is always a need to support them with these loans to help boost their businesses. Madam Zakariah, on the other hand, used the occasion to urge all beneficiaries to make a concerted effort to repay these loans which will contribute to the overall goal of sustaining MASLOC’s revolving funds.

Masloc provides microcredit loans to Western Region market women and others affected by market fires. In response to questions from the media, she stressed that Ghanaians who are eligible for microloans to assist their enterprises and are between the ages of 18 and 65 get the institution’s loans.

Malik Botwey, the regional manager for MASLOC, continued by stating that steps had been taken to fully inform the market women of the loan’s terms. He also added his voice to the call for these beneficiaries to repay their loans in order to support them in gaining access to larger sums in the future.

Speaking to the beneficiaries in Tarkwa, 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 sensitizing beneficiaries to repay these loans on time so that these disbursements could be extended to many more people in the future.

Additionally, Mr. Duker notified the CEO of MASLOC that he had made a request for funding under the organization’s hire purchase program in order to purchase sewing machines, hair dryers, and saloon vehicles for the youngsters in his district who match the qualifications.

Issah Iddrisu Amadu, Head of Credit at MASLOC, Mr. Paul Sarbeng, Deputy CEO for Operations, and Kwabena Asamoah, Deputy CEO for Finance and Administration, attended the payments in Takoradi and Tarkwa, which are a part of a series of impending disbursements.

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