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MASLOC supports women groups in Salaga to boost businesses

The Microfinance and Small Loans Centre (MASLOC) has disbursed some loans to six (6) women groups at Salaga in the East Gonja municipality to help empower and boost their businesses.

A total of 150 women in the six (6) groups, received between GH¢ 800 to GH¢ 1,000 each as part of the first round of disbursement in the area.

The groups received the loans at the weekend at the East Gonja Municipal Assembly as part of MASLOC’s mandate of supporting small businesses with funds to grow and to improve on people’s livelihoods.

As part of the disbursement, MASLOC officials also briefed the beneficiary groups and its members the tips on loan management as well as the agreed terms and period of payment of the loans.

Mr Yakubu Musah, Northern Regional Manager of MASLOC in an interview with the media, said MASLOC since November last year, has disbursed cheques of about GH¢ 2.5 million to 100 women groups in the northern region, with each group constituting of about 25 members.

He said MASLOC had been able to obtain between 90 per cent to 100 per cent loan recoveries from persons who took loans during the previous administration and was optimistic that this year’s beneficiaries would pay back their loans on time.

Mr Musah added that MASLOC, by way of economically empowering individuals, had also issued out 35 saloon cars to individuals who could not afford outright payment but by way of deposits.

He, however, stressed that MASLOC mode of giving out financial support to empower people was not based on any party affiliation and urged more people to come to the organization for assistance.

Mr Mohammed Tamimu, the East Gonja Municipal Chief Executive (MCE) urged the beneficiaries to do well to repay the loans within the given period in order to benefit more in the future since the loans were revolving funds.

He assured that the municipal assembly would make sure that loans were fully settled within the given period in order to help people who could not benefit to also benefit.

Most of the beneficiaries expressed joy for the support given to them and urged MASLOC to do more to help empower more women in the municipality.

Mrs Naomi Adomaa, a trader, said the loan she received was a sign of relief adding it would help sustain her business.

Madam Hajara Muftawu, a trader, said MASLOC had come to give hope to women in the Salaga township and assured that she would use the capital profitably and would pay back the loan within the agreed period.

Mrs Adisa Adamu, a food vendor commended MASLOC for the financial support and gave the assurance that she would encourage all beneficiaries to do well to pay back the loans on time to help them apply for more loans in future.

Source: GNA

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