MASLOC earmarks 163 billion cedis towards NYEP

Kumasi, March 3, GNA- Dr. John Kofi Agyekumhene, Chief Executive of
the Microfinance and Small Loans Centre (MASLOC), has said that the
centre has earmarked 163 billion cedis this year towards the National
Youth Employment Programme (NYEP) to enable the youth to be employed
and contribute meaningfully towards the socio-economic development of
the nation.He mentioned some of the programmes to be undertaken by the
youth as the cultivation of Jatropha for bio-diesel, aqua culture,
Guinea fowl production, mining, quarrying and low-cost housing.
Dr. Agyekumhene announced this at a workshop organized by the Ghana
Journalists Association (GJA) on providing credit to micro small
enterprises for small-scale industrialists and media practitioners in
Kumasi on Friday.
It was under the theme "Promoting Credit to Micro Small Enterprises-
Role of Microfinance and Small Loans Centre (MASLOC).
He also said MASLOC has developed a special scheme for People with
Disability and that 5.7 billion cedis would be given to them as loans
to expand their businesses as well as 3 billion cedis to the Borstal
Institutes and Ex-convicts as loans, which would be disbursed through
the Department of Social Welfare.
Dr Agyekumhene said arrangements were far advanced for the scheme to
take-off this year, adding that the necessary structures were being
put in place to support small-scale industrialists with loans to
expand their businesses.
He said poverty is a major obstacle facing the country and hoped that
access to sustainable financial services was certainly an effective
means of poverty reduction.
The Chief Executive stated that under the scheme, small-scale
industrialists could be supported with loans ranging between 250,000
cedis to 250 million cedis either individually or in groups
Dr. Agyekumhene further said Regional Offices for MASLOC have
been established in the 10 regions headed by co-coordinators in
addition to employing 535 district extension assistants who are to act
as contact persons through whom applications would be channelled.
He assured that adequate measures would be put in place by MASLOC to
ensure that the beneficiaries of such loans pay them on time to avoid
loan delinquency.
Mr. Bright Blewu, GJA General–Secretary on his part said the workshop
was the fourth in a series organized by the Association and other
stakeholders to improve on the performances of small-scale
industrialists in the region.
He appealed to media personnel to highlight on issues that would
enhance the activities of small-scale enterprises to enable them to
contribute meaningfully towards the socio-economic development of the
country.
3 March 07