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MASLOC to supply outboard motors to fishermen next year

 

The Microcredit and Small Loans Centre (MASLOC) has earmarked 1,000 outboard motors for supply to fishermen next year.

 

It is part of the centre’s efforts to boost fishing activities and improve the incomes of fishermen.

 

The Chief Executive Officer (CEO) of MASLOC, Mrs Sedina Christine Tamakloe Attionu, made this known during an end-of-year interaction with media practitioners in Accra.

 

The interactive event enabled the management of MASLOC to share some of the achievements of the centre with journalists.

 

Apart from the support to the fishing community, the CEO said, the centre would supply 2,000 bucket tricycles to beneficiaries, mostly in northern Ghana, to facilitate their farming activities.

 

This year, 1,000 of the tricycles were distributed by the centre in conjunction with the Ministry of Local Government and Rural Development.

 

Mrs Attionu said MASLOC had recorded significant improvement in its loan recovery portfolio.

 

The recovery rate, which stood at six per cent in 2009, jumped to 65 per cent this year, and officials have targeted 75 per cent for next year.

 

Mrs Attionu described this year as a fruitful one, with 2,492 beneficiaries benefiting from various assistance packages from the centre

 

In all, GH¢8,415,855 was disbursed to beneficiaries.

 

She said GH¢89 million had been disbursed to clients for various activities over the last eight years.

 

Areas covered included agriculture, micro-enterprise, alternative livelihood, skills development, vehicle hire purchase, manufacturing, disasters and school feeding.

 

Mrs Attionu said a total of 1,253 vehicles were distributed to individuals.

 

The CEO stated that it was the aim of MASLOC to use its credit facilities to reduce poverty, especially in the rural areas.

 

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