District Chief Executive officer for Bongo in the Upper East Region, Peter Ayinbisa has urged all beneficiaries of the Microfinance and Small Loans Centre, to work hard with their loans and pay back on time, to ensure that others benefit too.
“This government is committed to sustaining the resources of MASLOC to help many more people with easy loans to start or expand their business, to create worth and reduce poverty and unemployment. Don’t see the money as free government money, manage it well to make profit and pay back, so that others can also benefit. You are lucky to be chosen for the first round of disbursement of the loans, so please don’t abuse this opportunity.” Mr. Ayinbisa told the beneficiaries before the disbursement.
In all, some 125 women engaged in small and medium scale business and food processing ventures received loans from MASLOC in the Bongo District. They are expected to pay back their loans on monthly basis through their group leaders, from where MASLOC picks up its money.
The Bongo District Chief Executive urged the beneficiaries to use the loans for the intended purpose of applying for the loans, so as to be able pay back when the time comes.
The Regional Director of MASLOC, Ustaz Umar, in an earlier interview said, government expects MASLOC to operate in a way that will sustain its resources and there will be strict in disbursement and recovery.
According to him, MASLOC has educated some women groups on group and loan management and has empowered group leaders to help MASLOC recover all the loans that have been given out to beneficiaries.
Meanwhile MASLOC has disbursed loans to women groups in the Talensi and Garu Districts, where over 120 women in each of these districts benefited to enable them engage in viable economic ventures.
Other beneficiary districts in the Upper East Region are the Builsa South and Tempane Districts.
Source: a1radioonline.com | 101.1MHz | Ghana