THE Northern Zonal Co-ordinator of the Microfinance and Small Loans Centre (MASLOC), Mr Simon A. Yiryel, has advised recipients of MASLOC funds to put them to good use instead of diverting the money for unplanned purposes.
"The loans you are receiving today are meant to assist you in your businesses, so be careful not to misapply the money," he stressed.
Mr Yiryel said this at Bawku when his outfit disbursed MASLOC loans to the tune of GH¢56,600 to 323 people in 21 different groups.
Citing examples from other parts of the country, he said some recipients of the facility in Wa misapplied their loans by buying motorbikes for pleasure rides and even married additional wives, adding that such a bad practice was definitely unacceptable and unthinkable.
"It is better for you not to take the loans than taking it only to misapply the money and when the time for repayment is due, you throw your hands in the air," he emphasised.
Mr Yiryel said it was not easy for the government to continue to pump money into MASLOC, stressing that when recipients were lucky to be selected, there was the need to ensure that the loans were repaid to enable others to benefit from the facility.
For his part, the Bawku Municipal Chief Executive, Mr Abdulai Abanga, thanked the government for its decision to assist businessmen and women in the country with loans to help them expand their businesses.
Mr Abanga said he was happy to see people in Bawku benefit from the MASLOC loans because when the disbursement of the facility delayed due to the conflict at that time, some politicians took advantage of the situation to peddle lies to the effect that the government had deceived them.
He also advised the recipients to invest the loans wisely.
"The loans you are receiving today are meant to assist you in your businesses, so be careful not to misapply the money," he stressed.
Mr Yiryel said this at Bawku when his outfit disbursed MASLOC loans to the tune of GH¢56,600 to 323 people in 21 different groups.
Citing examples from other parts of the country, he said some recipients of the facility in Wa misapplied their loans by buying motorbikes for pleasure rides and even married additional wives, adding that such a bad practice was definitely unacceptable and unthinkable.
"It is better for you not to take the loans than taking it only to misapply the money and when the time for repayment is due, you throw your hands in the air," he emphasised.
Mr Yiryel said it was not easy for the government to continue to pump money into MASLOC, stressing that when recipients were lucky to be selected, there was the need to ensure that the loans were repaid to enable others to benefit from the facility.
For his part, the Bawku Municipal Chief Executive, Mr Abdulai Abanga, thanked the government for its decision to assist businessmen and women in the country with loans to help them expand their businesses.
Mr Abanga said he was happy to see people in Bawku benefit from the MASLOC loans because when the disbursement of the facility delayed due to the conflict at that time, some politicians took advantage of the situation to peddle lies to the effect that the government had deceived them.
He also advised the recipients to invest the loans wisely.
1 comment:
Hello, I like this blog.
Sorry not write more, but my English is not good.
A hug from Portugal
Post a Comment