As part of measure to deliver on its objective of providing funds to Small and Medium Scale Enterprises (SMEs), especially the unbanked customers who form a greater percentage of the informal sector of the economy, the Microfinance and Small Loans Centre (MASLOC) launched a Digital System to process loan within 24 hours.
The digital system will also increase access to their products and services, reduce the human interface in their operations, and increase efficiency through enhanced performance.
Chief Executive Officer of the organization, Stephen Amoah speaking to the media said applicants are expected to receive the results of their applications within 24 hours, with the card containing such vital information as the applicant’s Tax Identification Number, Ghana Post GPS address, and also useable on ATMs.
The objective of MASLOC is to provide, manage, and regulate on a 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.
For the objective stated above, MASLOC shall: Engage directly or indirectly in microcredit and small loans business.
Promote and enhance the development of a decentralized micro financial system.
Source: Mybrytfmonline/Kofi Atakora
