Parliamentary Finance Committee issued a report on the 2018 Program Based Budget Estimates of the Office of Government Machinery. According to the report, small businesses at the regional and district levels are expected to benefit from a GH?38m facility to be advanced by the Microfinance and Small Loans Centre (MASLOC) in 2018.
This is aimed at enabling prospective beneficiaries to support their businesses as part of the Centre’s program of activities for the New Year.
According to the report, it will also approve and disburse a total amount of GHS19,181,000 to 3,036 SME applicants; and it will also disburse as a loan an amount of GHS5,045,000 to twenty Micro Finance Institutions. A total amount of GHS38,950,000 microfinance loans will be disbursed to beneficiaries at the regional and district levels.”
The report noted, as part of capacity building, the Centre will hold a training program targeted at youth and women to train them in shoemaking and shea butter”.
The MASLOC’s objective is to provide, manage and regulate on fiduciary basis approved funds for microfinance and small-scale credit schemes and programs, and also serve as the apex body of the microfinance sub-sector.
Former President John Agyekum Kufuor launched MASLOC to provide straight cash transfers and other business needs to poor households in Ghana which might not be in a position to support them.
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