Women in small-scale businesses have been advised to form recognised groups to enable them to benefit from financial assistance from the Micro-finance and Small Loans Centre (MASLOC).
The Head of Operations at MASLOC, Mr Daniel Axim, who gave the advice, said the policy of MASLOC was to advance the loans to women who constituted themselves into groups to ensure effective management of the funds.
He was speaking at an assessment programme for more than 200 women from four communities; Dome, Kwabenya, Haatso and Taifa, towards securing financial support from MASLOC.
The women, who are all traders, were taken through the processes for securing MASLOC loans and the payment procedures.
The financial assistance forms part of the government’s social intervention efforts to empower women to improve their social and economic lives.
Mr Axim asked them to pay back the loans on time.
He said the scheme was a revolving fund, and failure to pay back would affect future operations.
The Greater Accra regional Manager of MASLOC, Mr Shadrack Quarcoo, took traders through the assessment processes and asked them to submit two passport pictures, a valid ID card and a guarantor each as part of the requirements.
He explained that interest rate for MASLOC loans was two per cent, with a processing fee of 2.5 per cent, and six months’ repayment period.
Ghana’s Ambassador to the Czech Republic, Mrs Zita Okaikoi, who was present during the exercise, commended MASLOC for having Ghanaian women at heart.
Source: Graphic.com.gh
