Odawna Market Fire Outbreak: MASLOC To Support Traders

The Microfinance and Small Loans Centre (MASLOC) has pledged to offer loans to victims of the Odawna Market fire disaster.

The victims, mostly market women are expected to get a one year moratorium loans from MASLOC.

Board Chairman of MASLOC, Seth Baah Acheampong made this known on Friday, November 20, 2020 when a team from MASLOC visited the market to assess the impact of the fire outbreak.

Speaking to the traders, he said MASLOC’s Board will meet this coming Tuesday to decide how much loan to give the market women who lost their goods and stalls to the fire.

He said the loans will be interest free.

Deputy CEO of MASLOC in charge of Operations, Abibata Shanni Mahama, told DGN Online that more than 80 percent of MASLOC’s funds are provided to women.

She said upon assuming office in 2017, the NPP Government realized that interest on loans offered to traders by MASLOC was 24 percent.

She said a decision was immediately taken to reduce the interest rate to 12 percent.

Meanwhile, she said efforts have been made to ensure the right traders who became victims of the fire outbreak benefit from the loans to be provided.

The fire outbreak occurred on Wednesday dawn, November 18, 2020.

Hundreds of stalls were burnt.

By Melvin Tarlue

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