The Micro Finance and Small Loans Centre (MASLOC) has been named the Sustainable Project Finance Brand of the Year at this year’s edition of the Ghana Credit Excellence Awards.
The Chartered Institute of Credit Management Ghana named MASLOC the top-performing institution in delivering sustainable project finance for SMEs for the year under review.
In a speech read for him, the Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, indicated that the theme considered for this year was very appropriate as the country recovers from the devastating effects of the COVID-19 pandemic.
He added that the digital revolution in the financial services industry has drastically changed how financial institutions operate and serve their clients adding that traditional banking procedures are fast becoming obsolete, due to the slow processing time and other bureaucratic procedures inherent in banking operations.
He entreated financial institutions to be proactive in digitising their risk functions and adopt BoG’s Risk Management Directive 2021(RMD) which offers guidelines for Risk Financial Institutions (RFIs) to develop a robust Risk Management Framework (RMFs) to aid in identifying, measuring, evaluating, controlling, mitigating and reporting material risks within their institutions.
Receiving the award in her office, Chief Executive Office of MASLOC, Hajia Abibata Shanni Mahama Zakariah, said “being recognised was a significant achievement and a testament to the tenacity and intuitiveness with which we innovate to add value to our client’s lives.”
She noted that the award is also an honour bestowed to deserving businesses, making it a significant achievement. She reaffirmed her commitment to ensuring MASLOC fulfills its goal by assisting with funding for small and medium-scale enterprises (SMEs) and the pro-poor.
She also took the opportunity to acknowledge the support of the office of the President, the Board, Management, staff, and MASLOC clientele nationwide for being a huge contributing factor to its success that has enabled the firm to become an essential component in governments effort in eradicating poverty from our society.
The Ghana credit Excellence Award is aimed at improving the quality and efficiency in the financial services sector and will focus on showcasing and applauding the best-performing banks, specialized deposit-taking institutions, microfinance institutions, venture capital businesses, and debt collection agencies in various categories.