For close to two years, the Microfinance and Small Loans Centre (MASLOC), has not disbursed any cash loans to applicants in the Upper East Region.
One of the major reasons for this development is the high level of indebtedness of the region to MASLOC. It has been said that debtors in the region owe MALSOC more than Ghc7 million of the Ghc9 million loans disbursed over the period.
70 per cent of these unrecovered loans are said to be in the Bawku Municipality, Bimbila and Tempane.
Speaking on A1 Radio’s Day Break Upper East, the Upper East Regional Manager of MASLOC, Ustaz Oman explained that while the Centre continues to support applicants with hire-purchase of tricycles and other ‘tangibles’, no cash loans have been disbursed since July 2020.
“Since July 2020, MASLOC has not disbursed loans in the Upper East Region. What we have been doing is that we are giving them things like sewing machines, hairdryers. We have also given out cars and tricycles. So those ones, we are still giving them but for cash, we have not given even 1 peswa to anybody,” he said.
Mr. Oman was confident that with the new resolve put in to pursue debtors, “by the end of March, results would be seen. We cannot however say that we are going to recover all the 100 per cent. For loans, 100 per cent recovery is a miracle so we cannot do that but what I can assure you that a lot would be done”.
The Regional Manager of MASLOC however insisted that for now, MASLOC is bent on persuading and appealing to the conscience of debtors to settle the debts owed.
“For now, it [going to court to pursue debtors] is not an option for us. Our interest is we want to meet the citizens and talk to them and let them understand that you have a brother also waiting to benefit so if you do not pay this money, where do you expect government to get money to give to your own brother?” he said.
A1radioonline.com|101.1MHz|Mark Kwasi Ahumah Smith|Ghana
