MASLOC will soon prosecute stubborn customers – CEO

The Chief Executive Officer for the Micro Finance and Small Loans Centre (MASLOC) Stephen Amoah has cautioned beneficiaries of the loan facility to pay pending debts in order to avert possible legal actions against them.

According to the CEO, his outfit has begun prosecuting some loan defaulters, an action that is being taken to ensure effective recovery of the monies purposely to revolve and benefit others in waiting.

Speaking in an interview on Obuoba FM’s “Obuoba Kasa” with host Nana Darkwa, Stephen Amoah explained his outfit is currently employing a number of measures to recover all loans given out to beneficiaries including court actions.

He said due to the recalcitrant nature of some of the loan beneficiaries, his outfit does communal visits where clients are summoned before some chiefs or opinion leaders, to explain the reasons behind these clients’ refusal to pay back the loans, which in effect hinder others in the community to access the facility.

He added that officials of MASLOC have been paying periodic visits to the beneficiaries to remind them on the need to pay back the loans, and warned defaulters of legal implications on their continual refusal to pay back. He said some beneficiaries have taken the loans and have not paid back after two years, as against the 12 months permissible repayment period.

Stephen Amoah further affirmed that there is the need to make the facility available to other interested individuals and groups, hence the need for all beneficiaries to pay back to ensure that the monies rotate and serve all interest groups.

“This administration has started giving out new loans to customers but we are still retrieving the owed ones”. He asserted.





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