AGI signs MOU with MASLOC to boost businesses of their members
The Association of Ghana Industries (AGI) has secured a strategic partnership with MASLOC to assist it members to secure funds from MASLOC to improve on their businesses.
Under the AGI-MASLOC partnership, AGI members in the Micro and Small Enterprises are to be assisted with GHC20,000 loan facilities as the maximum amount per company.
The facility according to AGI is structured in group schemes and intended to support, expand and facilitate industrial growth which they have developed internal modalities for administering the scheme and processing of the application.
This was revealed at the AGI Northern sector branch annual meeting in Tamale which drew members from all five regions of the North.
The annual meeting is to touch base with it members in all the regions in the country to bring together businesses and partners to discuss issues on how to move their businesses forward.
Addressing the media, the Chief Executive for the AGI, Seth Twum Akwaboah said the agreement with MASLOC will go a long way to assist in boasting the businesses of their members.
He gave an assurance that as a well organized association, they will ensure their members across the country pay back loans they get from MASLOC.
“The reason why we call it loans is that, it has to be paid back, is not for free. And MASLOC is had a bit of a challenge sometimes in recovering some of their loans. So we have come into an agreement with them that, work with AGI because we are an association of businesses and anybody that’s a member has a business and and registered with the registrar general.
“We know them, we know their factories, we know their premises, and we know how they’re performing on the business field. So when you work through us, then you can be sure that your money will go to the right hands. And then we are also doing it in groups, so that each group that takes the facility, we will ensure that the group members actually pays back”.
Touching on the closure of the Nigerian borders by the Nigerian government, Mr. Seth Twum stated that the action is really affecting businesses in Ghana but was hopeful the challenge could be resolved soon to enable businesses thrive on the continent.
The AGI has over 1,500 registered members from across the regions of Ghana with about 15% of the members being large scale industries, while the remaining 85% belongs to the SME category.