The Chief Executive Officer (CEO) of the Microfinance and Small Loans Centre (MASLOC), Stephen Amoah, has disclosed that over GH¢100 million loans given to customers are yet to be paid.
According to him, MASLOC is putting a lot of measures in place to retrieve the money, “even if it will involve going to court for the assets of defaulters to be seized.”
MASLOC is a microfinance apex body responsible for implementing the Government of Ghana’s (GoG) microfinance programmes targeted at reducing poverty.
It provides small loans for business people to grow and expand their businesses as well as enhance job and wealth creation.
MASLOC has over the years helped poultry farmers to boost the production of broilers, layers, turkeys, guinea fowls, ducks, among others, by providing them with the financial support needed.
The centre had been creating employment by empowering some individual drivers who belong to unions, with a work-and-pay package which allows them to become car or tricycle owners after a four-year period.
Speaking to DAILY GUIDE, Mr. Amoah said MASLOC should have grown to a higher level by now but because of the challenges it is facing as an institution – customers not paying back their loans.
He admonished defaulters to settle their debts or have themselves to blame, adding that some of the measures taken by the institution to retrieve its monies include publishing pictures of defaulters in the various newspapers, among others.
Meanwhile, Mr Amoah has given the assurance that by the end of the year, operations of the institution would have extended to about 70% of districts in the country with well-established offices in each district.
He revealed that there is an upcoming contract that will enhance rice production.
“The introduction of integrated I.C.T systems and proper database will ensure that we get access to our customers for our monies,” he posited.
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