The Deputy Chief Executive Officer (DCEO) of the Microfinance and Small Loans Centre (MASLOC), Hajia Abibata Shanni Mahama Zakariah has allayed the ubiquitous fears of many Ghanaian youth and other young entrepreneurs, who shy away from MASLOC loan because they perceive [it] as a preserve for only politicians.
According to her, MASLOC was instituted by the former President, John Agyekum Kufuor to assist vulnerable and less privileged people between the ages of 18 and 65 years, who require small and flexible loans to start up or expand their businesses but could not access loans from the formal banks.
She emphatically stated that “MASLOC is for all Ghanaians; whether NPP or NDC, Muslim or Christian, educated or uneducated, and I therefore want to encourage every Ghanaian citizen who needs the support of MASLOC to set up a business or expand, to come to any of our offices in 216 districts nationwide to do soâ€.
Hajia Abibata Shanni Mahama Zakariah, MASLOC Deputy CEO
Speaking as a Special Guest of Honour at the 2019 Business and Family Fair organized by the Men’s Ministry of the Pentecost International Worship Centre (PIWC) at Sakumono in Accra, Hajia Abibata disclosed that MASLOC under the current Management led by her Boss, Mr. Stephen Amoah has brought massive transformation, innovations and restructuring to enable more Ghanaians to benefit from the facility.
The Deputy MASLOC CEO indicated that the goal of the Centre is to reach out to as many clients as possible, especially those in the informal sector, who are excluded from the mainstream banking and are unable to access loans and credit from the formal banking sector.
“At MASLOC, we believe entrepreneurship is the way to go, which falls within the goals of government and MASLOC in reducing poverty, creating employment and wealth, and the youth are encouraged to advantage of this golden opportunityâ€.
Hajia Abibata highlighted on some of the opportunities available at MASLOC for Ghanaians who want to venture into any legitimate business anywhere in Ghana.
Some of our products include: Group Loans and Micro credit, which requires a minimum of 5 and maximum of 25 members in a group, of which each member can access a maximum of one thousand Ghana cedis. Small Loans or Individual loans, which gives loans between one thousand and ten thousand Ghana cedis mostly to those already in business and need to expand like seamstress, hairdressers, carpenters etc.
MASLOC she noted also gives Agricultural Loans, Asset Finance Loan and Project Loans and all these are very flexible with 2% monthly Interest on trading and services for a period up to 1 year and 1.5% for agricultural products for a period of 18 months.
Hajia Abibata Shanni Mahama Zakariah after answering several probing questions from most of the young entrepreneurs present, was led by the leadership of the Pentecost International Worship Centre to inspect the various products on display at the Business Fair.
, December 13, 2019