Debtors are not willing to pay - MASLOC CEO

The Chief Executive Officer of Microfinance and Small Loans Centre, Hajia Abibata Shanni Mahama Zakaria says the scheme is facing challenges.

According to her, recovery debt from the beneficiaries is affecting the survival of the scheme. She made this known to market women at the Koforidua Central Market in the Eastern Region.

Microfinance and Small Loans Centre is a body responsible for implementing the government of Ghana microfinance programs targeted at reducing poverty and creating jobs but the scheme since its inception seems to suffer from a lot of challenges with the key among them being beneficiaries inability to pay back the loans, whether deliberate or not.

Speaking to newsmen in an interview, after interaction with some market women in Koforidua, the Chief Executive Officer of the Scheme, Hajia Abibata Shanni Mahama Zakaria did not hesitate to reveal that, the low rate of debt recovery is affecting the operations of the scheme and that being the reason why her outfit has resolved to educate the beneficiaries and potential beneficiaries about the need to pay back their loans after accessing them so that, others can also benefit.

She added that there are other harsh approaches they can use to recover the debt but has decided to do more education which they believe could change the attitude of beneficiaries towards the scheme.