A total of GH¢18.3 million has so far been disbursed to 30,000 beneficiaries across the country as micro credit and small loans in order to reduce poverty by the Microfinance and Small Loans Centre since its inception. Over 127,000 applications have been approved for the disbursement of GH¢37 million.
Further, GH¢6.7 million to support 42,067 beneficiaries through pro poor schemes of 16 ministries, departments, agencies and some private microfinance groups have been disbursed. Activities covered under such schemes include women in entrepreneurship, micro credit enterprise, youth credit schemes, guinea fowl rearing, agro-processing and fish mongering.
The rest are alternative livelihood vocations, handicraft production, agro marketing, women in poultry, jatropha production and small scale mining.
These were disclosed by Lawrence Prempeh, Chief Executive Officer of MASLOC when he presented a paper at the Sunyani Regent Resort during the Ghana Journalists Association's Media/ Small and Medium Scale Entrepreneurs" dialogue held on Tuesday.
Mr Prempeh said following the official launch of the MASLOC scheme in September 2006, regional launches had been held in the Western, Volta, Ashanti and Greater Accra regions.
He disclosed that arrangements were almost complete for regional launches in the Eastern, Central, Brong Ahafo and the three Northern regions over the next couple of weeks. The launches would be accompanied by disbursements to groups and individuals in these regions whose applications had already been appraised and approved.
He further announced that the Business Service Department of MASLOC would soon roll out a programme to provide capacity building services in basic business practice for its beneficiaries so that they would always be on top of their jobs and therefore repay their loans promptly and conveniently.
Kwasi Afiyie Badu, Managing Director of KAB Governance Consult and moderator of the function, appealed to the management of MASLOC to increase the loans being granted to its beneficiaries especially at the regional level adding that it should be done on time to meet the needs of the applicants.
Forson Osei- Bonsu, Brong Ahafo regional head of MASLOC appealed to beneficiaries to exercise patience as the appraisal and approval process was meticulous to avoid impersonation and other fraudulent practices.
Bright Blewu, General Secretary of the GJA expressed optimism that the discovery of oil in the country would attract more businessmen into the country and called for the needed training and support for players in the oil industry.
During question time MASCLOC officials asserted that loan applications were granted on merit, not on political affiliation.