MASLOC to lend to Makola Market women

The Micro-Finance and Small Loans Centre (MASLOC), would begin disbursing loans from Monday, December 13 to traders at the Makola Number Two market in Accra which was gutted by fire about a month ago.

The loans which is to assist the traders begin normal businesses would be granted based on the category of business.

Mr Enoch Donkor, Head of Operations MASLOC, announced this when Members of the Board of Directors of MASLOC and some officials of Accra Metropolitan Assembly (AMA) visited the traders to sympathise with them and offer financial support.

He explained that the loans would be granted on group basis, after a meeting between members of the Board and group leaders to deliberate on the terms of the loans.

Mr Donkor said the loans which were to support the victims to re-start business would be paid between six to 12 months depending on the amount granted with an interest rate of 1.5 per cent a month.

He noted that group guarantee was assured as security adding, the centre would not deal with individuals directly but through the banking system.

Mrs Bertha Ansah, Chief Executive Officer of MASLOC, said the loans package would be fully funded by MASLOC, although government had promised funding it, adding that MASLOC found the initiative as a priority and a project to assist the victims.

She promised that the process would be fast so as to avoid any inconvenience and help them come back into business as soon as possible.

Mr Jonathan Nii Tackie Komme, Member of Parliament for Odododiodoo, urged the traders to make good use of the money in order to be able to pay on time.

Mrs Rahmatu Quarcoo, a trader at the market, expressed appreciation to MASLOC for coming to their aid since the loans would help most of them re-start their businesses.

Source: GNA