Develop innovative strategies to grow businesses - Chief of Staff urges financial institutions
The Chief of Staff, Julius Debrah, has urged financial institutions to develop innovative strategies relevant to their target clients’ business development activities.
Swearing in a new governing board of the Micro Finance and Small Loans Centre, MASLOC, at the Jubilee House, Accra, he reminded the board not to resort to the “business as usual” mantra but be creative and dynamic in their approach to doing business.
Mr Debrah also urged them to learn best practices and modern ways of doing business from other financial institutions.
Board members
The board is chaired by Jerry Nyamekye. Other members are the CEO of MASLOC, Abigail Mensah; Hajia Joyce Zaynab, Linus Azeriwe Agalisi, Nana Akyaa Dokua, Lily-Love Esetoobu Nunoo, Simon Voglo Amegashie and Beryl Appenteng.
The Chief of Staff expressed his disappointment over the inability of MASLOC to recover loans that had been disbursed to customers over the years, and called for pragmatic approach in recouping loans.
Mr Debrah also encouraged the board and management of MASLOC to lend support to small and medium scale enterprises with both technical and financial expertise.
He said it was not enough to give loans and go to sleep, and charged them to up their game.
The Chief of Staff congratulated the board and pledged his support for the tasks ahead.
Appreciation
The chairman, Mr Nyamekye, thanked the President for the opportunity to serve.
He mentioned financial inclusion, job creation and poverty alleviation, with focus on women, youth and micro-enterprises as their key objectives.
“Over the years, MASLOC has encountered its share of challenges, which have at times affected public confidence in its operations,” Mr Nyamekye noted.
He pledged to restore MASLOC’s integrity, performance and impact, adding that “we pledge to work with discipline, vision and transparency to reposition the centre as a credible, dynamic and sustainable public institution, one that fully delivers on its mandate,” the chairman said.
Mr Nyamekye outlined their mandate to include “strengthening governance oversight and institutional discipline, particularly in loan recovery and disbursement processes; safeguarding public funds and ensuring long-term sustainability”.
He mentioned digitising their operations and loan management systems to enhance monitoring, reduce inefficiencies, and promote transparency and accountability.
