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MASLOC CEO bemoans poor loan recovery rate

 

The Chief Executive Officer of Micro-finance and Small Loans Centre (MASLOC), Hajia Abibata Shanni Mahama Zakaria, has raised grave concerns about the poor recovery rate for loans advanced by her outfit over the years.

Most beneficiaries of MASLOC loans, she observed, fail to repay the loans advanced to them, thereby impeding the sustainability of the programme.

Hajia Abibata Shanni Mahama Zakaria is therefore calling for effective mechanisms to recover monies given to people under the programme, going forward, to ensure that many more qualified Ghanaians also benefit from the loans.

She was speaking in Techiman last Monday when she paid a courtesy call on the Bono East Regional Minister, Kwasi Adu-Gyan, as part of her visit to the area.

Objectives
To give practical meaning to the poverty reduction agenda, the New Patriotic Party led-government, under the leadership of President Kufuor, launched the Microfinance and Small Loans Centre (MASLOC) in 2006.

MASLOC provides micro and small loans for start-ups and small businesses with fast, easy and accessible microcredit and small loans to grow.

The objective of MASLOC is to provide, manage and regulate, on a fiduciary basis, approved funds for microfinance and small-scale credit schemes and programmes and also serve as the apex body of the microfinance sub sector.

For the purposes of the objective stated above, MASLOC engages directly or indirectly in microcredit and small loans business as well as promotes and enhances the development of a decentralized micro-financial system.

In respect of operations with non-bank institutions and targeted end-users, it seeks to promote co-operation, collaboration and complementarities with other non-bank finance institutions.

Sustainability
The CEO and her team were in the Bono East Region to engage key stakeholders on the future of MASLOC, especially with regard to its sustainability.

She was not happy with the recovery rate for loans disbursed in the Bono East Region in particular, saying “out of the over eight million Ghana cedis that was disbursed to people in the region, only a little over two million Ghana cedis, representing 31 percent of the amount given, has been recovered.”

Kwasi Adu-Gyan, the Bono East Regional Minister, prayed the CEO and her team to consider reviewing the criteria for selecting beneficiaries and the disbursement formula for giving out loans to people.

He proposed the creation of what he termed “business cottages” for organized groups in the communities to take advantage of their businesses instead of the current practice where individuals are given monies and they refuse to pay back.

 

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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