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09.05.2008 Business & Finance

MASLOC Disburses GH¢25m To Enterpreneurs

By GNA -
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The Micro-finance and Small Scale Loan Centre (MASLOC) has since last October made a total of GH¢ 18.3 million in direct disbursements in micro-credit and small scale loans to 30,000 beneficiaries across the country.

Mr Lawrence Kwasi Prempeh, Chief Executive of the centre, who disclosed this in Sunyani last Tuesday, said a further GH¢ 37 million had been approved pending disbursement to more than 127,000 beneficiaries.

He was speaking at a workshop on, 'Using the Media to Strengthen Business Advocacy', jointly organised by the Ghana Journalists Association (GJA), Business Sector Advocacy Challenge Fund (BUSAC) and KAB Governance Consult.

Participants were small and medium scale entrepreneurs and media personnel.

Mr Prempeh said MASLOC had additionally disbursed GH¢ 6.7 million to support 42,069 beneficiaries through the pro-poor schemes of 16 Ministries, Departments and Agencies (MDGs) and some private microfinance groups.

He said enterprises that benefited under those schemes included women in entrepreneurship, micro credit enterprises, youth credit schemes, guinea fowl rearing, agro processing, fish mongering and other alternative livelihood vocations.

Mr Prempeh explained that the government established the centre due to its recognition of the micro, small and medium scale enterprise as one of the principal driving forces in economic development.

'The sector generates employment, helps diversify economic activity and makes a significant contribution to exports and trade,' he added.

Mr. Prempeh said the long term objective of MASLOC was to promote the emergence, development and growth of a sustainable and decentralised micro finance sector with grassroots participation in ownership, management and control.—

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