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01.12.2020 Business & Finance

MASLOC announces GHC2 million support for about 3,000 traders affected by Odawna fire

MASLOC announces GHC2 million support for about 3,000 traders affected by Odawna fire
LISTEN DEC 1, 2020

The government agency Microfinance and Small Loans Centre (MASLOC) has rolled out financial relief support of GHC2 million for about 3,000 traders who got affected by the Odawna Market fire at Circle in Accra some couple of weeks ago.

It would be recalled fire razed the Odawna market destroying over 90% of the market down to ashes.

Funds are expected to be disbursed to the affected groups gradually in phases.

This comes as a giant step in reimbursing victims of the fire outbreak with interest-free loans with a one-year moratorium to support them.

Madam Afua Akoto deputy CEO of Masloc, who announced this at a meeting with traders on Tuesday at the Accra Digital Centre said MASLOC as a government agency is mandated to support small scale and medium enterprises to grow and that over 80% of MASLOC’s funds are provided to women.

"We believe this support will go a long way to give a little relief. The minimum amount a beneficiary will be paid is GHC2,000 so the government through MASLOC is doing this," she revealed.

"When the incident happened we came here with the MCE to assess the damage situation. We realised that so far as it is about market women, so far as it is about family and business we do what we are expected to do to help the victims."

There have been several fire incidents in this same market in the past.

It would be recalled that President Akufo-Addo upon a visit to the debris scene of the disaster pledged some form of financial support for the victims.

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