MASLOC disburses GH¢4m to about 200 market traders in Kumasi

The Microfinance and Small Loans Centre (MASLOC) recently disbursed GH¢4 million to around 200 market traders in Kumasi, with the aim of helping them expand their businesses and create employment opportunities. The beneficiaries, who operate at prominent markets such as Bantama, Kejetia, Kumasi Central Market, and Racecourse, have committed to repaying the loans according to the set schedule.

Vivian Owusu Asante, the Deputy Director in charge of Operations at MASLOC, revealed to Adom News that the centre provided the initial tranche of GH¢4 million to approximately 200 traders in Kumasi without considering political affiliations. She emphasized that MASLOC was established to support eligible Ghanaians in need of financial assistance to grow their businesses.

Owusu Asante clarified that claims of political considerations being involved in the loan disbursements were unfounded, as the institution is geared towards supporting qualified Ghanaians.

One of the challenges MASLOC has faced is a low loan recovery rate during the previous administration. The centre is actively working on recovering outstanding loans, urging all beneficiaries to repay their loans on schedule to facilitate additional support for other traders. MASLOC conducted a tour of the markets to present cheques to the approved beneficiaries.

The traders expressed their gratitude for the timely support, highlighting the flexible loan terms and conditions as beneficial. They also urged other traders to capitalize on the scheme, assuring MASLOC of their commitment to repaying the loans within the agreed timeframe, confident that the financial assistance would enable them to expand their businesses and enhance their livelihoods.