Microfinance and Small Loan Center has been given GH¢35 million in October 2018 for disbursement to its applicants. This is according to the President Nana Addo Dankwa Akufo-Addo.
This is the first time an amount of such magnitude has been given to the Centre outside of an election year.
Of the GHC35million that were received, the Centre has disbursed GH¢20,563,100 with GH¢14,317,200 yet to be disbursed for pending applications, which have been approved.
According to the president, “so far, GHC24,582 representing 87% of the monies disbursed have gone to women.
The 2016 NPP Manifesto promised to allocate 50% of MASLOC funds to women.
The President said that it has obviously been noticed that interesting things are happening at the successfully restructured MASLOC, and that is why the Centre was allocated an amount of GH¢ 200 million in the 2019 budget. Such an amount is unprecedented in the history of MASLOC.
“In 2019, MASLOC will give increased attention to youth start-up businesses in vegetable farming, poultry, piggery and fish farming.” he said.
The president bemoaned the incidence of bad governance methods that almost collapsed MASLOC which affected the running of many businesses generally and the financial sector in particular.