Over 2,000 women in the Volta Region have been given a total of Gh¢635,900 as soft loan by the government to boost their businesses in a bid to improve their livelihood.
Disbursement of the amount which was done through the Micro Finance and Small Loans Centre [MASLOC], started last week in Ho Central, Worawora, Jasikan, Hohoe, Anloga, Keta, Agortime, Kpando and Nkwanta South.
The women, who are predominantly traders from various associations including Amenuveve, Nutifafa Association of Ghana, Mesiwotso, Zongo, Dodzi, are to repay the amount within six months.
Chief Executive Officer of MASLOC, Mrs Tamakloe Attionu, said government was poised to empower more women to expand their businesses so they can improve their livelihoods.
“Women are the mainstay of our society; they contribute immensely to the development of the country and therefore government is well poised to support women in all endeavours, ” she said.
She said government has beefed up MASLOC to ensure that it takes up the role in helping in women’s development, particularly in the areas of micro and small scale enterprise.
Mrs Attionu urged beneficiaries to utilize the loans in order to repay them within the six-month period, noting MASLOC loans are not “political hand-outs” but are meant to improve businesses as well as livelihood.
The loan recovery rate, she said, is currently around 67 per cent and expressed the hope that it would improve further as beneficiaries are beginning to recognised the money are not freebies.
She said MASLOC has been doing a lot of education and awareness creation on how to repay the loan because the funds have to be recycled for other women to also benefit.
Member of Parliament for Ho Central, Mr. Benjamin Kpodo commended MASLOC for transforming the lives of Ghanaian women and appealed to the beneficiaries to use the money wisely so they can repay back on time without any setback.
The beneficiaries expressed their gratitude to President John Dramani Mahama and MASLOC for the aid at a time that they needed the money to expand their business.