The Micro Finance and Small Loans Scheme (MASLOC) says it no longer gives loans to foot-soldiers of political parties.
The move according to MASLOC has resulted in a massive increase in the recovery rate from 6% in 2009 to 68% in 2016.
Some analysts have questioned the politicization of schemes like MASLOC which appears to favour party affiliates in government.
The New Patriotic Party (NPP) Member of Parliament for the Ablekuma North Constituency Justice Joe Appiah claimed that the loans are only disbursed to NDC foot soldiers.
But speaking to Joy News, the deputy MASLOC boss Abubakar Ibrahim dismissed these claims insisting the scheme is more efficient and effective now than ever.
“Since we assumed office in 2009/2010 we have departed from that ideology. It has not been helpful…the recovery rate then was about 6.3 percent. Today we are talking about 67 to 68 percent.
“You don’t expect to give loans to party people and expect a huge recovery like that…but now people are paying.”
He stressed that no one is asked about their political affiliation when they apply for the loan hence the claims against MASLOC can in no way be true.
“All we want to do is to support businesses and entrepreneurs to grow so that at the end of the day we all can be proud to say that we are changing lives and improving our communities.”
