adverts
The newly appointed Chief Executive Officer (CEO) of the Microfinance and Small Loans Centre (MASLOC), Abigail Elorm Mensah, has vowed to improve the recovery rate of loans disbursed by the centre.
Speaking at a formal handing-over ceremony in Accra, Ms. Mensah stated her commitment to increasing the current recovery rate from 51 percent to a higher level, ensuring that more people benefit from government-backed financial support.
“I am told the current recovery rate is around 51 percent. So, we want to take it higher. The more the money is gotten back, the more other people will also benefit from it,” she noted.
adverts
Official Handover and Future Plans Ms. Mensah took over the leadership of MASLOC in a ceremony attended by family, friends, outgoing CEO Hajia Abibata Shanni Mahama Zakariah, and Managing Director of SIC Life Insurance, Solomon Twum Barima.
She emphasized that under her tenure, strategies would be implemented to ensure strict compliance with loan repayment terms, enabling beneficiaries to make the most of the financial assistance provided.
One of her key strategies is leveraging digitalisation to make MASLOC’s operations more efficient. “If you want to apply for a MASLOC facility, you would not have to journey all the way to get it. You would be in the comfort of your home and be able to access the facility,” she explained, stressing the importance of a paperless and easily accessible loan application process.
Vision for MASLOC Ms. Mensah expressed her desire to elevate MASLOC beyond its current status.
“Obviously, whoever takes over from somebody, the person will want to do better than the predecessor, and so I want to move the institution further than it was. The goal is to take MASLOC higher,” she stated.
She acknowledged the work of her predecessor and affirmed that she would build on the solid foundation left behind. “For now, I am taking the word of my predecessor that she has left a viable MASLOC. So we are praying and hoping that we can build on the viable MASLOC she has left to make it a better MASLOC,” she added.
Focus on Women Farmers and Market Access One of her key priorities, she revealed, is supporting women farmers by ensuring they have access to loans and an assured market for their produce.
“If the farmers cannot sell what they produce, they won’t be able to pay back the loans. So, we want to ensure that they have both financial assistance and a structured market to trade their goods,” she explained.
Commitment to Transparency and Staff Cooperation Addressing concerns about corruption, Ms. Mensah assured that her administration would be marked by integrity.
“I have taken cognisance of past stories about MASLOC, but my story will be different,” she assured. She further called on MASLOC staff to be disciplined and cooperative to ensure that those who are eligible for MASLOC loans can access them without undue stress.
Ms. Mensah’s tenure is expected to bring renewed energy and efficiency to MASLOC, with an emphasis on transparency, digital transformation, and financial inclusion for Ghana’s small businesses and farmers.
Click the link Puretvonline.com | WhatsApp Channel to join the WhatsApp channel
GOT A STORY?
Contact/WhatsApp: +233243201960 or Email: manuelnkansah33@gmail.com
