MASLOC will survive under my watch – MASLOC CEO

Contrary to opinions that, Microfinance and Small Loans Centre  (MASLOC ) had failed to deliver on its core mandate and will continue on a downward spiral if its operations are not reviewed, Mr. Stephen Amoah aka Stika the new Chief Executive of the scheme is optimistic that, the Scheme will survive.

The center was established in 2006 by the erstwhile Kufuor administration to provide funds for micro and small-scale entrepreneurs to strengthen their operations as an effective and viable strategy for poverty reduction.

However, since the beginning of 2017, MASLOC has not been able to embark on any serious activity owing to the huge indebtedness to it.

In 2009, it took steps to recover GH¢81,846,875 owed by defaulting recipients.

To put more fillip in its operations, the center set up a loan recovery task force to clamp down on all defaulters.

Lawyers for MASLOC had, in the past, worked seriously to prosecute defaulters, with a list of heavy debtors being referred to the then Serious Fraud Office, now the Economic and Organized Crime Officer (EOCO), and the Bureau of National Investigations (BNI) for action.

The challenges facing MASLOC have been largely blamed on the politicization of the institution, and succeeding managers keep blaming previous administrations for failing to follow due diligence in disbursing money to beneficiaries, citing weak institutional checks and monitoring, as well as improper documentation of beneficiaries.

Some of the beneficiaries are said to have used other people’s names to secure loans without the knowledge and consent of those whose names were used.

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But speaking on Delivering on Our Promises by the NPP on Homebase TV with Ekow Vincent, Mr. Stephen Amoah was of the hope that with the right attitude the new management of MASLOC will revive the scheme.

“ I know it is not going to be an easy task for us, but I believe that with the right attitude and direction we will revive the scheme” he stated.

Mr Amoah indicated that “as part of moves to provide effective and efficient services, the centre had completed the refurbishment of its offices in the 216 districts and the renovation of the head office in Accra”.

“Some of the people owing us have started to pay up, but what we are receiving is not encouraging. We shall intensify our recovery effort this year to retrieve every single penny,” the Chief Executive Officer (CEO) of MASLOC, Mr Stephen Amoah, stressed.


Source: Ghana | |Nana Yaa Boamponsem Ameyaw



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