The Greater Accra Regional Secretariat of the Microfinance and Small Loans Centre (MASLOC) has disbursed GH¢19,620,100 to beneficiaries from 2017 till date.
GH¢16, 322, 100 out of the amount was given to 783 groups while GH¢3,298,000 was given to individuals in the Region.
The Greater Accra Regional Director of MASLOC, Dennis Okyere Danso, who made the revelation on Onua FM’s Ghana Dadwene on Sunday, explained that “every group has minimum of five and maximum of 25 people”.
He noted that “every Ghanaian is a beneficiary of MASLOC. Prior to 2017, the beneficiaries were given GH¢500 to GH¢800 and they deducted GH¢250 processing and administrative fee from it”.
Mr. Okyere Danso said: “We raised it to GH¢1,000 and then deduct the operation fee from it”.
“The interest was 2% per month under the NDC but we reduced it to 1% per month. The duration for the repayment of the group loan was 6-months which gave them pressure but we sat and said six month coupled with COVID-19 was difficult so it should be a year”.
The Director said the individual loans are given to people who have their own businesses and they apply.
“It is given to the small scale businesses and every Ghanaian is entitled to it.”
By Kweku Antwi-Otoo|