News:
May 31, 2018
Member of Parliament for the Mfantseman Constituency in the Central Region, Ekow Hayford Quansah has urged his colleagues and other stakeholders to help educate their constituents on the need to pay back loans they took under Microfinance and Small Loans Centre (MASLOC).
According to him, paying back of the loans by the beneficiaries will ensure the sustainability of the scheme and will enable others to benefit from the assistance.
In a statement made on the floor of Parliament, Mr Quansah noted that the non-payment of loans by the defaulters is gradually collapsing the scheme which was meant to support Small and Medium Enterprises (SMEs) in the country.
He said: “To make this scheme more sustainable and attractive, the following should be adopted: Members of Parliament who are guarantors in their constituents should educate them about the need to pay on time and in full.
There is the need to depoliticize both the administration and the disbursement of funds to remove the political tag on the institution that makes some beneficiaries to not want to pay back. The government should increase its annual budget allocation to the scheme every year to enhance its client base.
The scheme should put more administrative offices at the administrative levels to check its operations and activities.”
The Mfantseman lawmaker noted that MASLOC has the capacity to project governance at the grassroots level when it is done and done well hence the need for all stakeholder involvement.
Christian Kpesese/ ghanamps.com