5,000 SMEs to benefit from MASLOC

About 5,000 Micro and Small-Scale Enterprises (SMEs) and entrepreneurs in the Ashanti Region would benefit from loans under the Micro-Finance and Small Loans Centre (MASLOC).

The beneficiary SMEs out of the 20,000 applicants would be granted GH¢2,000.

Mr Lawrence Akwasi Prempeh, Chief Executive Officer of MASLOC, announced this at the launching of Ashanti Regional branch of MASLOC in Kumasi on Friday.

The launching was under the theme: "A New Approach To Economic Empowerment Through Micro-Financing."

Government established MASLOC last year to manage micro finance schemes introduced under Ghana Poverty Reduction Strategy (GPRS) II to boost the private sector with adequate credit facilities to small-scale entrepreneurs.

Mr Prempeh noted that government's policy on Golden Age of Business would be a mirage when the private sector that remained the backbone of the nation's economy was not adequately resourced.

He said MASLOC had 450 personnel nation-wide to advise and sensitise applicants.

Mr Osei Assibey Antwi, Deputy Ashanti Regional Minister, pledged government's commitment to institute measures to improve on the living standards of the people.