CREDIT FACILITY FOR 103 GROUPS ... (Back Page)

Story: Kwame Asiedu Marfo, Takoradi

THE Micro Finance and Small Loan Centre (MASLOC) is to provide credit facility for 2,575 beneficiaries from 103 groups in the Shama Ahanta East metropolis to start or expand their small-scale businesses.
The first tranche of GH¢480,000 has been approved for disbursement as loans to the beneficiaries in the metropolis.
At the launch of the credit facility in Takoradi, the Chief Executive Officer of MASLOC, Mr Lawrence Akwasi Prempeh, said more funds would be approved for disbursement to the people.
He said the credit facility would be launched at Asankragwa in the Wassa Amenfi West District and Sefwi Wiawso, both in the Western Region.
He said further that the facility had already been launched in the Ashanti, Volta and Greater Accra regions.
Mr Prempeh added that the facility represented efforts being made to alleviate poverty.
He noted that many people were eager to start some business but lacked the start-up capital and stressed that the government was prepared to help the people to start or expand their businesses through the facility.
He, however, said the money was not free and that the beneficiaries should endeavour to repay for others to benefit.
He also said those who would repay the loan promptly would be given more.
The Minister of Trade, Industry, PSI and Private Sector Development, Mr Joe Baidoe Ansah, said the credit facility would attract a very low interest rate, unlike that of the commercial banks.
This, he stated, was to ensure that many people benefited from it.
He advised the beneficiaries to use the loans for profitable ventures.
The Western Regional Minister, Mr A.E. Amoah, said the facility was geared towards wealth creation.