The Microfinance and Small Loans Centre (MASLOC) has revealed that it has as at September 2017 recovered a total of GH¢ 9.2 million out of GH¢100 Million that was given out as loans to beneficiaries under the former National Democratic Congress (NDC) administration.
Chief Executive Officer (CEO) of MASLOC, Stephen Amoah said the amount retrieved so far is inadequate indicating that it has a toll on the finances of the centre.
According to him, a portion of the amount was given out under the NDC regime without following due processes.
“Our debt portfolio currently stands at over GH¢100 Million and greater part of the amount was given out under the erstwhile government. They failed to follow the due processes in granting the loans to beneficiaries who are party croniesâ€, he disclosed.
He said the Debt recovery was among other factors a major challenge crippling the Microfinance and Small Loans Centre (MASLOC) in the erstwhile National Democratic Congress (NDC) administration.
Meanwhile, MASLOC has issued a 10-month ultimatum to all defaulters including celebrities to settle their indebtedness or have their names and images published.
Deputy CEO of MASLOC, Maame Afua Akoto on an Accra-based radio station said, â€So far those who were owing, others paid outright and those who paid outright were about ten, but currently those who are paying in installment as the plan is…those who are paying in installment and who are still owing are about fifty of them. All the fifty of them, they were supposed to even pay until October. Per the plan, you pay monthly, but they have paid till December; all fifty of them. Celebrities have all honoured their obligations, meaning from now to December they are all not going to be even harassed or anything. So I just hope they keep that spirit up so we all enjoy the thing together.â€
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