The newly appointed Upper East Regional Manager of the Microfinance and Small Loans Centre (Masloc), Salifu Akologo, met with Upper East Regional Minister Hon. Akamugri Donatus Atanga on Monday to discuss Masloc’s expansion plans and challenges in loan recovery, particularly in the conflict-affected Bawku area.
Akologo outlined Masloc’s strategy to establish offices in district assemblies, each staffed by a credit manager and secretarial personnel to oversee loan disbursement and recovery for local businesses. However, he highlighted difficulties in recovering loans in Bawku due to ongoing security concerns.
The volatile situation has made it impossible to retrieve funds from businesses that received loans, Akologo said, proposing that the outstanding loans be classified as bad debt.
In response, Hon. Akamugri assured that he would engage Masloc’s national secretariat on the matter. He also urged Akologo to remain dedicated to his role in supporting small businesses across the region.
