About seventeen organizations in the Western Region have received group loans from the Micro Finance and Small Loans Centre (MASLOC).

In Takoradi, 100 beneficiaries received support for their enterprises during the payout procedure, which took place on Wednesday, October 25th, while in Tarkwa, 227 beneficiaries received support on Thursday, October 26th, 2022.

Speaking at the event, Hajia Abibata Shanni Mahama Zakariah, CEO of MASLOC, expressed sorrow with the recipients, many of whom had lost their stores in the Takoradi temporary market fire catastrophe that occurred six months before.

She noted that the incident has had a significant impact on the businesses and livelihoods of these market women thus necessitating the need for the disbursement of these Group loans.

Madam Abibata Zakariah went on to say that due to the situation described above, she had to increase the number of beneficiaries from an initial 50 individuals to 100 in order to assist them to revamp their businesses.

Beneficiaries who received amounts ranging from 1,000 Ghana cedis to 2,000 Ghana cedis expressed their willingness to repay these loans in order to access an increased amount in future disbursements.

Engaging beneficiaries in Tarkwa, the CEO of MASLOC stated that the market women are a very strategic component in driving the economy and there is always a need to support them with these loans to help boost their business'.

Madam Zakariah, on the other hand, used the occasion to urge all beneficiaries to make a concerted effort to repay these loans which will contribute to the overall goal of sustaining MASLOC's revolving funds.

In response to press inquiries, she emphasized that the institution's loans are distributed to Ghanaians between the ages of 18 and 65 who qualify for micro loans to support their businesses.

MASLOC's Regional Manager Mr. Malik Botwey, went on to say that they had taken steps to fully orient the market women on the terms of the loan and added his voice to the call for these beneficiaries to repay their loans in order to help them access higher amounts in the future.

Speaking to the beneficiaries in Tarkwa, Member of Parliament for Tarkwa Nsuaem Constituency and Deputy Minister of Lands and Natural Resources Hon. George Mireku Duker expressed gratitude to MASLOC for disbursing these loans to beneficiaries in his constituency. He also asserted that he would assist in sensitizing beneficiaries to repay these loans on time so that these disbursements could be extended to many more people in the future.

In addition, Hon. Duker informed the CEO of MASLOC that he has submitted an application for support through the institution's hire purchase scheme items such as sewing machines, hair dryers, and saloon cars for the youth in his constituency who meet the eligibility requirements.

The disbursements in Takoradi and Tarkwa which forms part of a series of upcoming disbursements was attended by Mr. Paul Sarbeng Deputy CEO for Operations and Mr. Kwabena Asamoah Deputy CEO for Finance and Administration and Mr. Issah Iddrisu Amadu, Head of credit at MASLOC.