MASLOC to become independent of government

The Microfinance and Small Loans Company, MASLOC says it remains determined to wean itself off government support in the near future.

Government at the moment remains the sole-financier, but it says increasing demand from the public requires that it increases its loan purse.

Officials say plans to recapitalize and gain autonomy are currently before cabinet for approval.

Public Relations Officer, Mustapha Abubakar says one of the options is to source funds from the international market.

He said it is particularly important for MASLOC to try and stand on its own because the default rate of its beneficiaries was high because people tended to think that the money is government money.

Mustapha Abubaker said MASLOC is also working on extending loan facilities to public sector workers.



Source: Joy Business/Ghana