400 Women traders get MASLOC loans

President John Dramani Mahama has presented soft loans totalling GH¢202,400 to 400 traders within Nima, Maamobi, Accra-New Town and surrounding communities. 

The President, who was on his “Accounting to the People” tour of the Greater Accra Region, stopped over at Nima to present cheques covering the Micro Finance and Small Loans Centre (MASLOC) loans to the all-female beneficiaries who operate under 16 groups.

In a brief remark, President Mahama advised beneficiaries of MASLOC loans to invest the money to expand their businesses.

He said the two per cent interest rate charged on the loans provided an opportunity for the traders to exploit it to their advantage. 

The President noted that women naturally invested money more profitably than men and expressed the hope that the 400 women would live up to expectation. 

More women benefit 

 About 89 per cent of MASLOC loans beneficiaries are women

With education and training, MASLOC has consistently improved its loan recovery, with a current rate of 67 per cent. 

President Mahama urged the women to pay back the loans promptly because there were many others looking for the opportunity to access MASLOC loans. 

He said the government would continue to put people first in the implementation of its policies. 

Schemes 

The Chief Executive Officer of MASLOC, Ms Sedina Tamakloe Attionu, cited the vehicle, tricycle and micro loans schemes as the job creation initiatives the centre was supporting Ghanaians to pursue.

She thanked the President for his support for MASLOC and said the centre had been resourced with funds to take care of the numerous applicants for loans.

 The traders expressed their gratitude to MASLOC and the President for coming to their aid.