Ghana

MASLOC gives GH¢2m interest-free loans to Odawna fire victims

Odawna fire

The Microfinance and Small Loans Centre (MASLOC) is offering GH¢2 million offer loans to victims of the Odawna market fire.

The fund is to enable the about 3,000 women, whose wares were destroyed at the Pedestrian Shopping Centre close to the Kwame Nkrumah Interchange, get back to business.

The interest-free loans with a one-year moratorium to support them are expected to be disbursed to the affected groups gradually in phases.

Deputy Chief Executive Officer (CEO) of MASLOC, Maame Afua Akoto, said the initiative is in fulfillment of President Nana Akufo-Addo’s promise to support the traders whose wares were destroyed by the fire in order to restart their businesses.

She noted that each affected trader will receive a minimum of GH¢2,000 to start their business.

“We believe this support will go a long way to give a little relief. The minimum amount a beneficiary will be paid is GH¢2,000 to begin business,” the MASLOC Deputy CEO noted.

She indicated that, they have the data of all the traders to ensure due diligence in disbursing the funds.

Maame Afua Akoto also promised the disbursement will be done devoid of partisan interest.

Chairman of the Pedestrian Shopping Mall Traders Association, Ernest Mensah, thanked the government for the support.

He said most of them, who had lost hope, can now start something small to cater for their families.

Mr Mensah urged the traders to put the monies to good use in order to meet the repayment plan.

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