Balchisu Yakubu
The Microfinance and Small Loan Centre (MASLOC) has presented GH¢100,000 as loan to four women groups in the Tolon District of the Northern Region
The loan facility is to help boost the businesses of the beneficiaries in the district.
Each group of women numbering between 25 and 100 received GH¢25,000.
The Northern Regional Recovery Manager of the MASLOC, Mr Issac Arabogo, presented the money to the beneficiaries at Tolon on Saturday.
He mentioned that the loan to the Tolon women was the first time that MASLOC was giving such a “big loan” to the beneficiaries in the area.
Mr Arabogo added that the presentation also formed part of the organisation’s efforts to support women who were into small businesses with funds to grow their businesses.
He hinted that MASLOC was initiating programmes to support the shea industry to purchase machines to help add value to the shea industry.
Mr Arabogo mentioned that plans were far advanced to offer assistance to women to venture into rice processing and packaging.
The recovery manager, however, cautioned that the loan was a revolving fund and urged the beneficiaries to pay back for others to benefit.
He said MASLOC was doing all its best to make sure that women were empowered to boost their business with the fund and appealed to them to use the moneys judiciously.
The Tolon District Chief Executive, Madam Yakubu Balchisu commended MASLOC for the assistance extended to women in the district.
She urged the beneficiaries to make good use of the funds in order to achieve the goals and objectives of the government.
The DCE said the money had come at the right time since most of the beneficiaries needed funds to expand their businesses.
Speaking on their behalf, Madam Baba Salamatu thanked MASLOC for the gesture and pledged to use it for its purpose.
From: Yakubu Abdul-Majeed, Tolon.
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