The erstwhile President John Agyekum Kuffour administration gave out state funds from the Microfinance and Small Loans Centre (MASLOC) to some Ghanaians without proper documentation, Chief Executive Officer, Mrs. Sedina Tamakloe Attionu has alleged.
According Mrs. Attionu, the situation made it difficult for MASLOC officers to go after such beneficiaries to retrieve the “wanton” money disbursed.
Speaking Thursday on Gold Power Drive, Mrs. Sedina Attionu told Henry Agbai, the undisclosed money owed MASLOC under the NPP had “gone waste”.
She said the recovery rate for loans disbursed during the then administration of the New Patriotic Party was six percent, a situation which caused Ghana to lose huge sums of money because the beneficiaries refused to pay back the loans.
Mrs. Attionu was quick to add that the NDC government that took over the management of the country from the NPP had put in place pragmatic measures to change the story of MASLOC which now has a recovery of 72 percent as at November 2016.
MASLOC was set up in 2006 with the aim of reducing poverty by economically empowering women in the informal sector to accelerate credit at low interest of two percent.
The financial support is in line with the agenda of the Government of Ghana effort to reduce poverty and empower Ghanaian women in their respective communities across the country.
Mrs. Attionu assured that the Mahama-led administration would continue to support traders with MASLOC funds to enable them grow their businesses.
She also commended the Ministry of fisheries and Aquaculture Development on a recent collaboration where over one thousand three hundred tricycles were distributed to fisher folk to boost their fish business.
By: Coffie Emmanuel/ Radiogold905.com