MASLOC loans to be accessed with Ghana Card soon

The Chief Executive Officer of the Microfinance and Small Loans Centre (MASLOC), Stephen Amoah, has disclosed that the Ghana Card will soon be part of requirements needed in accessing funds at the Centre.

This forms part of measures to automate operations at the Centre, ease and reduce complexities for their clients as well as to reduce turnaround time.

Addressing a brief ceremony to unveil the new MASLOC zonal office at Krofrom, a suburb of Kumasi, Mr Amoah said processes towards this innovation are far advanced, and should be expected soon.

He added that in a bid to decentralise the operations of MASLOC, it has brought about the setting up of a zonal office at Krofrom to curb congestion at their Ashanti regional office, adding that another office would be set up in Kumasi.

Loan repayment

The MASLOC Chief Executive was however dissatisfied with the attitude of some individuals who have failed to adhere to the loan repayment mode.

He has therefore appealed to defaulters to pay back the monies they borrowed from the Centre in order to help others acquire the same support to operate their businesses.

He noted the importance of the Centre to the country, saying “90 per cent of businesses in the country are in the informal sector, hence MASLOC was established to support such businesses to thrive.”

Mr Amoah warned persons who would want to bypass laid down procedures to acquire loan from the Centre to desist from doing so, saying the process of loan acquisition is transparent and fair.

“Don’t say you belong to CPP, NDC, or NPP and that you are the son or daughter of a party chairman so we should make the loan free for you. We want to build a sustainable society and make sure Ghana can be compared to any other country in the world. And if you think you are a member of the NPP and therefore will not present a guarantor to acquire for a loan, then you won’t get the necessary support,” he said.

“President Nana Addo Dankwa Akufo-Addo wants to assist every individual with state resources; that is why he restructured MASLOC and injected more funds into the institution than the NDC,” the MASLOC boss added.

The Member of Parliament for Manhyia South, Collins Owusu Amankwa, explained that the funds of MASLOC are revolving, and so must be paid when given to anyone as a loan.

He urged traders to desist from using funds acquired from MASLOC for activities that do not help the growth of their businesses.