MASLOC disburses over GH¢4m to beneficiaries in Upper West Region
Despite the global economic recession, the government is still committed to reducing poverty levels through the Microfinance and Small Loans Centre (MASLOC) activities in the Upper West Region.
The MASLOC has from 2018 to 2021 disbursed a total of GH¢4,034,100 to beneficiaries in the region.
It has also been able to recover GH¢2,633,809 out of the disbursed amount, representing a recovery rate of 59.89 per cent.
Mr Abdul Aziz Moniesson Suleman, the Upper West Regional Manager of MASLOC, made these known when he addressed stakeholders’ meeting on MASLOC operations.
He said the government through MASLOC had supported 7,191 beneficiaries, including women, youth, entrepreneurs and drivers in the region.
The MASLOC had also worked closely with stakeholders in the 11 constituencies, especially on group formation for loans and tricycle purchases.
“This collaboration contributed immensely to maintaining the regional loan recovery rate above 60 per cent from 2017 to 2020 but this declined to 59.89 per cent last month due to the Omicron situation”, he said.
“This, notwithstanding, MASLOC in the region was still adjudged the overall best recovery team in Ghana for the year 2021,” he added.
Mr Suleman said for 2022, MASLOC intended to give out hairdryer machines, sewing machines on high purchase to interested members of professional associations, such as hairdressers, tailors and seamstresses.
He called on interested associations in the respective constituencies to meet officials of MASLOC in the region for explanation on the requirements.
MASLOC is also inviting interested persons for tricycles and VW GOL vehicles on high purchase.
Hajia Abibata Shanni Mahama Zakariah, the Chief Executive Officer of MASLOC, who was on a working visit to interact with staff and stakeholders, commended the MASLOC in the region for the enviable achievement in loan recovery.
The national loan recovery rate stood at 45 per cent while that of the region rose to 59. 89 per cent.
She urged other MASLOC Offices in the regions to emulate MASLOC in the Upper West Region and make loan recovery a top priority.
That, she noted, would enable the organisation to expand its operations to benefit several associations and individuals to enhance livelihoods.
Hajia Zakariah promised to support MASLOC in the region to get its fair share of the national cake and urged the organisation to intensify its education on loan repayment efforts.
The Chief Executive Officer appealed to management of the organisation to co-operate with all other stakeholders to help improve relations and promote operations of the organisation.
Earlier, Hajia Zakariah paid a courtesy call on Dr. Hafiz Bin Salih, the Upper West Regional Minister and updated him on MASLOC operations in the region.
Source: GNA