The Microfinance and Small Loans Centre (MASLOC) in the Volta Region has announced stringent measures to recover overdue loans from beneficiaries who have defaulted on repayment, with more than GH¢7.1 million in cash and assets still outstanding.

The Volta Regional Manager (MASLOC), Mawunyo Agbe, expressed concern over the rising trend of loan defaults, warning that the centre will no longer tolerate individuals who benefited from government support but refused to repay.

"We are so determined that all those unwilling to repay their loans will be pursued. Final demand notices have already been issued, and the next step, with court approval, will be to publish the names of defaulters in public places," he said.

Mr Agbe said MASLOC intended to paste the names of loan defaulters at markets, lorry stations, public notice boards, and other vantage points across communities to expose those undermining the revolving loan system.

"These are not ghosts. They are human beings, and MASLOC is seriously hunting for them. If they continue to turn themselves into ghosts, we will flush them out. Loan facilities are meant to support businesses and livelihoods, but when people refuse to repay, they deny other traders, farmers, and artisans access to support," he emphasised. 

Agbe revealed that more than 10,000 beneficiaries in the region were in default, while MASLOC had disbursed several assets and funds, including 113 tricycles, 1,857 hair dryers, 2,482 sewing machines, 88 Hyundai i10 cars, and over GH¢7.1 million in cash.

He cautioned that beneficiaries who failed to settle their debts risked both public embarrassment and legal action. He also reminded defaulters that MASLOC loans attracted minimal interest rates, making repayment fair and affordable.

"Government support is meant to revolve so that many others can benefit. When you refuse to pay back, you are not only cheating the state but also denying others the chance to improve their lives. This is a matter of conscience," Agbe underlined.

The regional manager was speaking on Ho fm today on the Adanu morning show with Togbe Ahorgo I.

He further noted that once recoveries are made, MASLOC will reopen its support schemes for genuine applicants. He urged potential beneficiaries to apply honestly, use the funds or assets responsibly, and ensure timely repayment to sustain the programme.