PAY BACK YOUR LOANS MASLOC C.E.O BEGS DEFAULTERS IN OTI REGION.
The Chief Executive Officer of the Microfinance and Small Loans Centre (MASLOC), Hajia Abibata Shanni Mahama Zakariah, has pleaded with defaulters of loans given by the Centre to repay monies given to them.
Speaking to Peace/Hello/Beyond Fm “Yoooooooooooo” Kwabena Ntow when she met all Stake-holders at Dambai the Oti Regional capital and she said repayment of loans was critical because it will help the centre give out more loans to help sustain and expand Micro, Small and Medium Scale Businesses.
The Chief executive officer (CEO) added that currently Oti Region’s recovery outstanding debt is 1.4 million Ghana Cedis and if even 50% of it is paid back this will surely hamper the ability of the Centre to give more loans to needy Businesses and Market women.
“My biggest headache is recovery, it is very very low, as you know MASLOC is a revolving fund and it is the wish of the President His Excellency Nana Addo Dankwa Akufo-Addo that all Market women and Businesses are given loan to expand but the biggest challenge is people are not paying back as it is expected.
Again Hajia Abibata said people should know that MASLOC loans are not for FREE that is why it is called LOAN and they need to recover and do more things, as a lot of people have applied and those have to be given the loans once they repay they can also take more but the recovery has been very very low,”