Some 500 traders who lost their goods in the Oda Market fire incident have received GH¢2,000 interest-free loans each to return to business.
The Microfinance and Small Loans Centre (MASLOC) Chief Executive Officer, Abibata Shanni Mahama Zakariah, urged the traders to repay the loans after the stipulated one year to enable them receive more to grow their business.
The disbursements from MASLOC officials to the traders was in response to President Nana Akufo-Addo’s promise when he visited the market to asses the extent of devastation.
The affected traders received cash loans and beamed with lots of hope to bounce back to business and have their livelihood back.
The CEO asked the traders to abide by the agreement set.
“It is because of the fire incident that is why we are giving you things we haven’t given to people before. With MASLOC loans you must pay processing fees and start repayment of loans after one month but with this one, we are giving you one million cedis in total. GH¢2,000 each for all the 500 people from the 20 groups. We won’t charge processing fee, you are required to start repayment after one year.”
She underscored the important role of the traders in the country’s economy and asked them to return for more loans if they do due diligence.
“You market women hold the economy for us. No matter what businesses we have, without market women, Ghana cannot go forward. When you finish paying, you can come for more. You would have to build your record. Have us at heart by paying back as we have had you at heart.”
The traders were grateful to the President and MASLOC officials for the gesture.
In September, 2021, fire ravaged a bigger portion of the Oda Central Market to ground zero.
The traders then pleaded for government’s support.
Present at the meeting was the Eastern Region Minister, Seth Acheampong, and former Senior Minister Yaw Osafo Marfo.
A committee was set up ascertain the findings and give recommendations to government.