Micro finance and Small Loans Centre (MASLOC) was established early in 2004 as an apex body for the judicious administration, coordination and monitoring of microcredit and small loan schemes and the promotion of decentralized Micro financial System in Ghana as part of Ghana Poverty Reduction Strategy (GPRS). This is aimed at reducing poverty and improving the living standards of the people of Ghana. It also aligns with the Millennium Development Goals (MDGs). Since then, Government has resourced and continues to provide the required support for the Centre.
Officials MASLOC, which is directly under the Office of the President, are seeking the assistance of the country’s anti-graft agency, the Serious Fraud Office (SFO), to help the centre recover more than GH¢80 million owed it by defaulting beneficiaries.
Speaking on Shalom Radio Morning Show, hosted by Koda on Wednesday 5th May this year, the Berekum Municipal Chief Executive (MCE) ,Hon. Lord Oppong Stephen, noted that defaulters of the MASLOC loan scheme should pay back their loans since it’s long overdue.
The MCE emphasized that he doesn’t intend to mortify any of the defaulters, but if they make no attempts to pay back stringent action would be taken against them.
He hinted that the government have intentions to give loans under MASLOC to various businesses and pleaded beneficiaries should endeavour to pay back to sustain the scheme and extend it to more businesses to help improve standard of living for all.