MASLOC CEO assures youth of institution’s support for startups and small businesses

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MASLOC’s Managing Director, Abibata Shanni Mahama Zakariah, assured the young entrepreneurs of the institution’s strong commitment to providing microloans and small loans to start-ups and small businesses in the country.

Hajia Mahama Zakariah reiterated this commitment in her interactions with young entrepreneurs during this year’s edition of the Ekosiisen national dialogue series held at the Digital Center in Accra on Friday.

Hajia Abibata Shanni Mahama said in her opening remarks that the institution is committed to helping SMEs and start-ups to expand their businesses in the country despite limited resources due to high demand for financial assistance .

She pointed out that MASLOC’s main areas of support include supporting youth in entrepreneurship, empowering women, assisting the agribusiness industry and supporting people with disabilities.

MASLOC CEO assures youth of institution's support for startups and small businesses

The CEO of MASLOC said that many young entrepreneurs still find it difficult to obtain fast, simple and flexible financing to start or expand their business.

She called on people with good business practices and viable business plans, the marginalized who cannot apply for financial assistance from traditional financial institutions due to high business rates and more complex documentation to contact the institution. because it has been endowed with resources to specifically help the productive poor. .

MASLOC CEO assures youth of institution's support for startups and small businesses
John Kumah, Deputy Minister of Finance

She went on to say that small businesses and startups can also benefit immensely from capacity building and skills development programs that are conducted before the loan is disbursed by the institution, this will help equip them with the necessary skills to be properly positioned to use the funds advanced to make them profitable.

During the dialogue series, Madam Mahama Zakariah told young business owners that MASLOC offers cash loans from 5,000¢ to 200,000¢ depending on her approval limit and even 200,000¢ to 500,000¢ at the board level to help them grow their businesses.

MASLOC CEO assures youth of institution's support for startups and small businesses
Daniel McKorley, Executive Chairman, McDan Group

Some of the different loans have a maximum duration of 18 months with a moratorium of one month and an annual interest rate of 12%.

She went on to say that MASLOC exists to empower Ghanaians between the ages of 18 and 65 by providing support to their existing businesses and start-ups without discrimination or bias and is committed to erasing misconceptions that the Institution is only favorable to people. who are politically exposed.

MASLOC CEO assures youth of institution's support for startups and small businesses

She urged young business owners, especially those in the agribusiness industry working on livestock, poultry, fish and crop scoping projects with gestation periods of up to 18 months, to contact company and seek its support.

Hajia Abibata noted that they could benefit from capacity building and training programs and the hire-purchase program which allows the provision of items such as tricycles to enable them to transport their products at comparatively cheaper rates.

She also mentioned that the interest rate of six percent per annum for agricultural loans is unbeatable, so young people should take advantage of it.

MASLOC CEO assures youth of institution's support for startups and small businesses

Madame Abibata Shanni Zakariah has courted the young entrepreneurs to also take advantage of their hire-purchase program which provides items such as sedans, minibuses, tricycles, sewing machines and hair dryers at a cost and very affordable payment schedules to start and grow their business.

Dr. John Kumah, Deputy Minister of Finance, Pius Enam Hadzide, CEO of NYA, Kofi Ofosu Nkansah, CEO NEIP, Michael Okyere Baafi, Deputy Minister of Commerce and Industry, Kwadwo Baah Agyemang, CEO of Accra Digital Centers Limited and Chairman for the occasion, Daniel McKorley, Executive Chairman of the McDan Group, was among the notable speakers present at the dialogue series.

MASLOC CEO assures youth of institution's support for startups and small businesses

The Ekosiisen Dialogue series is an initiative to raise awareness of important national issues. This year’s dialogue series focused on entrepreneurship and its strategic importance to Ghana’s industrialization agenda.

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