Some Members of Parliament (MPs) who have defaulted in the payment of what they owe the Microfinance and Small Loans Centre (MASLOC) have begun to pay up, following threats by the centre to make their indebtedness public.
MASLOC recently threatened to publish the names of high-profile figures and some entertainment personalities who had failed to honour their financial obligations, which run into thousands of Ghana cedis, in the national newspapers.
“Following our threat to publish the names of persons owing us in the media, some MPs have started paying, although the process has been slow,” the Chief Executive Officer (CEO) of MASLOC, Mr Stephen Amoah, told the Daily Graphic.
Recovery effort
He said his office would not renege on its efforts to retrieve all the money owed MASLOC, an institution which has been bogged down by financial difficulties, making it unable to effectively discharge its function of providing loans for small and medium enterprises.
Mr Amoah said MASLOC had so far recovered about GH¢16 million from its debtors across the board, of which GH¢10 million came from loan defaulters and the remaining realised from assets of the centre in the hands of defaulters.
“Some of the people owing us have started to pay up, but what we are receiving is not encouraging. We shall intensify our recovery efforts to retrieve every single penny,” he said.
MASLOC seized scores of commercial vehicles, mostly taxis, from individuals and groups who have defaulted in the payment of loans taken from the centre.
Challenges
One of the major challenges facing MASLOC has been the politicisation of the centre, with succeeding managers in the past blaming previous administrations for failing to follow due diligence in disbursing money to beneficiaries, citing weak institutional checks and monitoring, as well as improper documentation of beneficiaries.
Sympathisers of a governing party at any particular point in time who benefit from MASLOC have always failed to pay back their loans, on the assumption that the support given them should serve as reward for their support for the party.
Some of the beneficiaries are said to have used names of others to secure loans without their knowledge and consent.
Source: Daily Graphic
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MASLOC What is seizing you to publish those names? If you can't do the job just make way for competent people ok? Just give them at most one month of which if they don't pay then you publish then people will take you serious. Kusi Boafo too has been TALKING for a far too long without any action from PUBLIC REFORMS. THE TALKING IS TOO MUCH!
these people are holding press conferences rubbishing whatever the Government is doing. The former president is going round telling Ghanaians he left money with you and that you should complete his road project he signed on the 7th December when he had lost power.Who do you think you are shielding? You donot act fast. Ghanaians are becoming impatient.
Every task entrusted into any state functionary must be treated in a business-like manner. The defaulters must be given a deadline of about three (3) months after which serious prosecution should start. Business is not giving out items or money, but the ability to collect proceeds back and make the entity self-sustaining and profitable at the long run. MASLOC is not a charity organisation so administrators must crack the whip to collect back monies disbursed so that other citizens can also benefit from the outfit.
TOO MUCH TALK. PLEASE ACT FAST AND PUBLISH THEIR NAMES. YOU PEOPLE ARE JOKINGGG WITH NDC OOO. HMMMM YOU BETTER SIT UP AND EXPOSE THEM BIG TIME OTHERWISE YOU WILL SOON SEE YOURSELVES IN OPPOSITION