GENERAL

Invest MASLOC money in cooperative credit unions - Gov't urged
The National Organizer of Fo-Operative Credit Union of Ghana, James Sarfo Gyamfi has alleged that, the MASLOC agency which was initiated by the NPP led government under former President Kufour's administration was introduced purposely to reward the political party faithfuls but not the benefits of Ghanaians as a whole.

Date Created : 9/16/2019 4:38:43 AM : Story Author : William Dei-Gyau/Ghanadistricts.com

He revealed in an interview with Ghanadistricts.com that those who took loans from MASLOC always refuse to pay especially the party members because after working for the party to win power they consider it as a reward.

According to Sarfo Gyamfi, "it is time for government to channel the MASLOC allocated money into credit unions with affordable rate if indeed the government want to grow the private sector because they are driving the private businesses and giving loans to those applying small businesses".

He added that "the establishment of MASLOC office is unnecessary because establishing offices in all the 16 regions and employing the officers is waste of money meanwhile the cooperative credit unions are there to assist Ghanaians in same way".

He cited an example on how the cooperative credit union is helping some of the African countries to advance in their economy, "Kenya and Rwanda are very strong in cooperative sector thus cooperative farmers; maize growers, animal rearing and others which are sponsored by the government".

He noted that if not for rewarding the party cronies with the MASLOC he doesn’t know any needs of that sector because officers and beneficiaries are all party members.

He concluded that, the government have to collapse MASLOC and pump the money in cooperative credit unions since they have strong and fundamental initiatives that can help the private businesses to grow.