We don’t disburse loans based on party lines – MASLOC CEO denies partisan loans allegations
Claims that loans facilitated at the Microfinance and Small Loans Centre (MASLOC) are based on party lines have been refuted by the Chief Executive Officer, Hajia Abibata Shanni Mahama Zakariah.
She stated that applicants for loans are considered based on merits.
MASLOC as an institution provides micro and small loans for start-ups and small businesses with fast, easy and accessible microcredit and small loans to grow and expand their businesses as well as to enhance job and wealth creation.
But for some time now, there are allegations that authorities circumvent the processes for cronies to the detriment of those in real need, a situation that worsens non-payment of the loans.
The CEO has, however, debunked these assertions explaining that the process to acquire MASLOC loans is transparent.
“That has always been the misconception. People always say disbursing MASLOC loans depends on the government in power deciding those it gives facilities to. MASLOC was set up for Ghanaians. When people come here for loans we do not really ask for party ID cards. What we ask for is a National ID.”
Stressing the issue of loans gone bad, the MASLOC CEO disclosed that measures have been instituted to recover the monies from defaulters.
This strategy she says is not affecting new loan facilities, thus encouraging Ghanaians to take advantage to revamp their operations.
“We are embarking on an aggressive recovery program. The loans are not gifts, they are not for free so anyone who took any facility from us knows that. We have brought in some reforms to enable us to recover quickly. I am doing something about it. Our emphasis is on recovery now but we can’t stop giving loans”.
