Masloc grants micro loans to victims of market fires and other market women in the West Region

The Micro Finance and Small Credit Center (MASLOC) has disbursed group loans to some seventeen groups in the West Region.

The disbursement exercise, which took place on Wednesday and Thursday, in Takoradi and Tarkwa respectively, saw one hundred beneficiaries in Takoradi and two hundred and twenty-seven beneficiaries in Tarkwa receiving support for their businesses.

Speaking on the occasion, MASLOC CEO Abibata Zakariah expressed his sympathy to the beneficiaries, many of whom were victims of the makeshift Takoradi Market fire which razed over 100 shops six months ago.

She noted that the incident had a significant impact on the businesses and livelihoods of these market women, thus necessitating the disbursement of these loans from the Group.

Mrs. Zakariah went on to say that due to the situation described above, she had to increase the number of beneficiaries from 50 people initially to 100 in order to help them reorganize their businesses.

Beneficiaries who received amounts ranging from ₵1,000 to ₵2,000 expressed their willingness to repay these loans in order to access an increased amount in future disbursements.

On engaging the beneficiaries in Tarkwa, the CEO of MASLOC said that market women are a very strategic element in driving the economy and there is always a need to support them with these loans to help them boost their businesses .

Madame Zakariah, on the other hand, took the opportunity to urge all beneficiaries to make a concerted effort to repay these loans which will contribute to the overall objective of supporting MASLOC’s revolving funds.

Masloc grants micro loans to victims of market fires and other market women in the West Region

In response to press inquiries, she pointed out that the institution’s loans are distributed to Ghanaians between the ages of 18 and 65 who are eligible for microloans to support their businesses.

MASLOC Regional Director Malik Botwey went on to say that they have taken steps to fully orient market women on the terms of the loan and added his voice to the call for these beneficiaries to repay their loans to help them access higher amounts. in the future.

Addressing the beneficiaries in Tarkwa, MP for Tarkwa Nsuaem Constituency and Deputy Minister of Lands and Natural Resources, George Mireku Duker expressed his gratitude to MASLOC for disbursing these loans to the beneficiaries in his constituency.

He also said he would help sensitize beneficiaries to repay these loans on time so that these disbursements can be extended to many more people in the future.

In addition, Mr. Duker informed the CEO of MASLOC that he had submitted a request for support through the institution’s hire-purchase program for items such as sewing machines, hair dryers and sedans for young people in his constituency who meet the eligibility conditions.

The disbursements in Takoradi and Tarkwa, which are part of a series of disbursements to come, were attended by Mr. Paul Sarbeng Deputy Director General for Operations and Kwabena Asamoah Deputy Director General for Finance and Administration and Issah Iddrisu Amadu , credit manager at MASLOC.

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