Home Business MASLOC supports about 500 Akyem ODA Market fire victims

MASLOC supports about 500 Akyem ODA Market fire victims

Smes Get Gh?3m Masloc Loan

About 500 victims of the Akyem-Oda Market devastating fire, which razed down stalls and structures, displacing several marketers have received assistance from the Microfinance and Small Loans Centre (MASLOC).

The MASLOC on Monday presented a cheque of GHS2,000.00 cedis in a form of loan without interest to each of the affected victims in support of their efforts to mobilize funds to reorganize their businesses.

In September this year, property and goods belonging to some 1,000 traders were destroyed when fire gutted the Oda Market, one of the biggest trading centres in Eastern Region and an important source of revenue to the district assembly.

The disaster dislocated many of the traders, mostly women, and rendered several others jobless.

President Nana Addo Dankwa Akufo-Addo during his tour of the Eastern Region in early October visited the market to assess the extent of damage.

He assured the victims of assistance by the government through MASLOC with funds to restart their businesses.

Madam Abibata Shanni Samarian, Chief Executive Officer (CEO) of MASLOC, who presented the money to the victims, said it was in fulfilment of the President’s promise to them and urged the beneficiaries to put it into good use.

She stated that the loan facility was interest free and that beneficiaries have one year moratorium after which they would be required to start paying in instalments.

She advised them to abide by the terms and conditions.

Mr Seth Acheampong, Eastern Regional Minister, thanked MASLOC for the prompt response and indicated that arrangements were underway with the Youth Employment Agency (YEA) for further support.

The beneficiaries were reminded that the money was a loan to be paid later and therefore must be used for it intended purpose to ensure that the revolving fund benefited others caught in similar situations.

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