MASLOC TO CUT DOWN INTEREST RATE TO 15%-ASH RGL DIR

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Operations of the Micro and Small Loans Centre, MASLOC, has now been decentralized to all the 43 administrative districts of the Ashanti region with the recruitment of 129 beneficiaries of the Nation Builders Corps to man the district offices. 

The decentralization is meant to engender ownership of the MASLOC and enhance its visibility while improving its accessibility, especially to micro and small business operators who require the support of the Centre to grow their enterprises. 

Speaking on Garden City Radio’s Super Morning Flight in Kumasi, the Ashanti Regional Director of MASLOC, Hajia Zaanabu Sallow, noted that, opening of offices at the district level would also enable the Centre identify the real needs of prospective loan seekers and their locations so as to maximize recovery. 

Hajia Sallow disclosed that, government is presently considering a plea by loan seekers to cut down the interest rate from the current '24 per cent to 15 per cent to encourage prompt repayment.' 

She disclosed that loan applications for cooperative groups in 23 of the districts made up of 10 groups of 25 members each has been approved for disbursement and would soon be given out to the applicants to boost their trading activities.

 Hajia Sallow disclosed again that, MASLOC is now concentrating on group applicants for this year to enable the beneficiaries to take advantage of the impending yuletide. Members of such groups will be entitled to between 500 and one thousand Ghana Cedis each while a consideration is also being given to the repayment period from the present six months to about one year after disbursement.

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