Stephen Amoah – CEO of MASLOC
The Microfinance and Small Loans Centre
(MASLOC) Ghana has supported over 567 persons in the Ashaiman Municipality of
the Greater Accra Region as part of the effort by the government to raise the living
standard of most Ghanaians.
According to Emmanuel Chapman Kodam Takyi, the Ashaiman
Municipal Coordinator of MASLOC, the support is to expand the businesses of beneficiaries
who are doing petty trading to make a living.
He said that the application of 38 groups made
up of 25 persons in each group had been processed at Ashaiman and 24 of the groups
had received their cash for trading.
“Each group is given GH¢25,000 to be distributed
among the 25 persons; that is GH¢1,000 per person,” he said.
“In November 2018, five groups were processed
and had their money in April 2019. The five groups that received the first
tranche of the money are due to finish repayment in November 2019 at an
interest rate of 2 per cent monthly for six months. Three people out of the 125
persons that were qualified to take the money in April didn’t show up,” he
added.
He also said that in May, 20 groups were worked
on and 19 received their money in October.
Ashaiman is expecting some 14 cheques. That is
13 for the groups that was worked on in August 2019 and one outstanding from
the May groups.
He said the municipality was one of the highest MASLOC beneficiaries.
From Vincent Kubi, Ashaiman
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