UPPER WEST MASLOC MANAGER CALLS FOR IMMEDIATE LOAN REPAYMENTS TO SUSTAIN SUPPORT

The Microfinance and Small Loans Centre (MASLOC), a flagship government initiative aimed at empowering small businesses and improving livelihoods in Ghana, is facing significant challenges in the Upper West Region due to rising loan defaults by beneficiaries.

This worrying trend threatens MASLOC’s ability to continue providing critical financial support to entrepreneurs across the region.

Madam Saudatu Bashiru, the Upper West Regional Manager of MASLOC, described the institution as a commendable government intervention designed to empower people by enhancing their businesses and ultimately raising their living standards.

Speaking on Info Radio’s Te Zinne Yiri Yela program, she highlighted the attractive one percent monthly interest rate offered by MASLOC, which is far more affordable compared to the exorbitant rates charged by commercial banks and private lenders.

“This moderate interest rate should encourage timely repayments. However, it is disheartening that many beneficiaries are still defaulting on their loans.” She noted with grave concern.

She further explained, “MASLOC should currently be very solvent, able to continue extending microcredit to many more entrepreneurs desperately needing capital. Unfortunately, this is not the case because of the huge outstanding debts owed by many beneficiaries.”

The Upper West regional MASLOC manager appealed to defaulters to take immediate steps towards repaying their loans to sustain the institution’s operations.

Echoing the regional office’s concerns, Mr. Tahiru Moomen, MASLOC’s Northern Sector Manager, revealed that the total indebtedness of MASLOC beneficiaries in the Upper West Region had ballooned alarmingly.

“The outstanding loans are approximately GH₵1.6 million, while the amount tied up in vehicle hire-purchase contracts stands at about GH₵3 million,” he disclosed, underlining the gravity of the situation.

In response to the growing debt burden, MASLOC has issued a stern warning to defaulters nationwide. A recent statement urged all loan defaulters to regularize their payments by September 30th, 2025. Failure to comply will result in the publication of their names and details in national newspapers, alongside the initiation of legal proceedings to recover the debts.

MASLOC’s ability to continue its vital mission of boosting livelihoods depends heavily on the commitment of beneficiaries to honor their loan agreements.

The institution’s success in advancing economic empowerment in Ghana now hinges on overcoming these financial hurdles through responsible repayment practices.