Lack of financial discipline on the part of some loan beneficiaries has been identified as the major setback for the development of Micro-Finance and Small Loan Centres (MASCO).
The Aowin Suaman District Chief Executive (DCE), Mr Osca Ofori Larbi, has, therefore, called on beneficiaries of these facilities to executive their part of the agreement to enable others enjoy the facilities. He made it clear that such facilities were not for free, and so debtors had to pay back to enable others benefit, thereby keeping the source in business.
Speaking in an interview, Mr Ofori Larbi said those who benefited under MASLOC�s GH�72,000 financial package should endeavour to pay back within the stipulated period.
The DCE said the strategy was aimed at improving the local economy by identifying the poor, where they lived, and which aspects of activities really needed financial support.
He said it became extremely difficult for funds to be disbursed when previous beneficiaries had not honoured their loan obligations. Mr Larbi urged the beneficiaries not to misapply the loan to ensure that at the end of the day, they would be able to make some money for themselves in order to pay back the facility.
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