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01.10.2008 Regional News

MASLOC assists groups in West Akyem

By gna

One hundred applications received by the Micro-Finance and Small Loans Centre (MASLOC), in the West Akyem Municipality have been approved with 40 others awaiting verification and approval.

A total amount of 25,000 Ghana cedis had been paid to 14 groups who applied for the facility under the first package.

Mr Kwabena Sintim-Aboagye, the Municipal Chief Executive,
who disclosed this at the Assembly's meeting at Asamankese,
said the second package of 50,000 Ghana cedis would be disbursed to 32 groups.

He said under the small loans component, which was granted to individuals and co-operatives, 50 applications were received out of which 25 were approved and 9 groups received 14,000 Ghana cedis while the rest were awaiting approval.

Mr Sintim-Aboagye said that the lack of access to capital for people in the private sector, especially those in the rural population, informed the government to set up the MASLOC to ensure that rural communities gained access to funds to enable them to expand their economic activities.