Mr Yakubu Musah (left), Northern Regional Manager of MASLOC presenting the cheque to one of the beneficiaries

Masloc supports 250 Women with loans

Samuel Duodu Oct - 08 - 2019 , 11:54 2 minutes read

The Northern Regional branch of the Macrofinance and Small Loan Centre (MASLOC) has disbursed a total amount of GH¢25,000 as loan facilities to 10 women groups within the Tamale metropolis to help them expand their businesses.

The beneficiaries numbering 250, made up of 10 each in a group, received GH¢1,000 each as part of the first tranche of the disbursement.

Support

The Northern Regional Manager of MASLOC, Mr Yakubu Musah, who presented a cheque for an amount of GH¢25,000 for disbursement to the beneficiaries at a brief ceremony in Tamale last week, said government through MASLOC would continue to support small scale income earners to grow their businesses so that they could contribute to the growth of the national economy.

He said it was also in line with the mandate of MASLOC to support small businesses with funds to grow and improve on the people's livelihoods, most especially women.

He also added that MASLOC, by way of empowering individuals, had distributed about 35 saloon cars to individuals who could not afford outright payment.

Mr Musah, however, discarded the notion that MASLOC’s mode of giving out financial support was based on political party affiliation and urged the public to contact the organisation for assistance to grow their businesses.

Intervention

The Northern Area Manager of MASLOC, Mr Musah Mutawakilu, said MASLOC was one of the interventions by the government to mitigate conditions of poverty within the country.

He revealed that MASLOC, since the beginning of 2019, had disbursed over GH¢6 million to women in the Northern Region.

Mr Mutawakilu, however, lamented that MASLOC was unable to reach out to some areas in the region owing to poor weather conditions that had made some parts of the region inaccessible.

He admonished the beneficiaries to repay on time to enable MASLOC to give out loans to other people.

Beneficiaries

Some beneficiaries expressed joy for the support given them to grow their businesses and urged the government to consider doubling the amount to enable them to expand their businesses and employ more people.