'We need to revamp MASLOC'

Ebenezer Quartey is the Executive Director of the Micro Credit Association of Ghana. He has called for a thorough reassessment of the Microfinance and Small Loans Centre (MASLOC).

In an interview on Joy News' AM Show, Mr. Quartey expressed concerns about MASLOC’s current operations. He believes they may not effectively support small businesses in Ghana.

“It’s time we take a fresh look at MASLOC,” he stated. He added that rethinking its operations could help small businesses thrive.

Mr. Quartey pointed to Uganda as a successful example. He noted how Uganda uses microfinance institutions to support small and medium-sized enterprises (SMEs).

“What Uganda has done is leverage microfinance institutions for funding SMEs,” he explained. This approach has boosted both businesses and the economy.

He emphasized the broader economic benefits of supporting entrepreneurship. Creating jobs is essential for national development, he said.

“We’re not just creating employment; we’re also contributing to GDP,” he noted. Strengthening small businesses can significantly boost Ghana's economy.

MASLOC is a government agency that provides microcredit and small loans to start-ups and small businesses in Ghana. Mr. Quartey believes revamping MASLOC could enhance its role in driving growth and job creation.