A total of Gh¢886, 400 has been disbursed by the Micro Finance and Small Loans Center (MASLOC )to 89 women groups drawn from the Upper West Region.
The 89 groups represents a total of 2,225 women who were selected upon their applications from the Jirapa, Lambussie, Nandom, Daffiama, Issa and Bussu communities of the region.
The rest were from districts such as Wa West, Wa Central, Wa East, Lawra, Sissala East and West. The disbursement is aimed at helping beneficiaries expand their businesses and improve their source of livelihood.
The loans, according to MASLOC, are also to improve the lives of beneficiaries, line with President John Mahama’s Transforming Ghana, Changing Lives agenda.
Deputy Chief Executive officer of MASLOC, Mr Mustapha Batalima Abubakar, who presented the cheques of various sums to the beneficiaries urged the women to pay back the loan in the stipulated time.
He explains the loan is a revolving fund and that other women in other communities can only benefit when the current beneficiaries pay back in order to process the applications of other applicants.
According to the MASLOC Deputy CEO, the loan scheme in the Upper West Region and other parts of the country is in conformity with the President’s directive to make access to loans easy to people at the grassroots who ordinarily would find it difficult to take small loans from the traditional banks to boost their businesses.