The Member of Parliament for Fanteakwa South, Kofi Okyere-Agyekum has cautioned beneficiaries of the Micro-Finance and Small Loans Centre (MASLOC) in the Eastern Region to desist from misusing monies given them to support their micro and small scale Enterprises.
About five hundred beneficiaries in different communities each were given GHC1,000 by the Regional Director of MASLOC, Alfreda Aboagye.
The various communities include Heman, Abompe, Dwenase, Osino, Nsutam all in the Fanteakwa South District.
At Osino Thursday, December 5, 2019, the Member of Parliament for Fanteakwa South, Kofi Okyere-Agyekum who was present during the distribution of fund advised that the money should be used wisely without buying funeral clothes, preparing expensive meals and other material things which will add nothing to their coffers.
“When you make good use of GHC1,000 at the first stage, it is an opportunity to move to the second step where the monies will be increased.”
He noted that this forms part of the Akufo Addo government’s effort to support citizens who engage in small scale business.
On her Part, Director of MASLOC in the Eastern Region, Alfreda Aboagye said there is the need to support more women to eradicate poverty adding, a survey conducted in the region reveals more women engage in trading.
The funds were disbursed to about 25 different groups in about five (5) different communities majority of the beneficiaries are women. She commends the President for making the interest rate very low which just 1%.
“The money is not for free, this is a loan and it is not for free because it is a revolving fund so if you fail to settle the amount, others will not benefit from it. Also, our team will be monitoring to ensure the monies are in proper use,” he said in an interview with Agoo News Ebenezer Kojo Nyavor.
She urged the public to disregard rumors that the Authorities engage only NPP members adding the President has set up this for Ghanaians despite one’s political affiliations.
Some beneficiaries who spoke to Kasapa News expressed their profound gratitude to the president and promised to ensure the monies are refunded.