The Microfinance and Small Loans Centre (MASLOC) in the Volta Region has announced tough recovery measures to retrieve overdue loans, with more than GH¢7.1 million in cash and assets still outstanding from beneficiaries.

The Volta Regional Manager, Mawunyo Agbe, raised concern over the rising trend of loan defaults, warning that the Centre will no longer tolerate beneficiaries who benefited from government support but have refused to repay.

He revealed that final demand notices have already been issued, and the next step—pending court approval—will be to publish the names of defaulters in public spaces.

“We will paste the names of loan defaulters at markets, lorry stations, public notice boards, and other vantage points across communities,” Mr. Agbe said, stressing that the move is intended to expose those undermining the revolving loan scheme.

According to Mr. Agbe, more than 10,000 beneficiaries in the region are currently in default.

MASLOC had previously disbursed a range of support, 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 continue to default risk public embarrassment and legal action.

The Regional Manager reminded defaulters that MASLOC loans come with minimal interest rates, making repayment affordable.

He stressed that recoveries are crucial for sustaining the programme, as funds can only be reallocated to new applicants once debts are settled.

Mr. Agbe urged potential beneficiaries to apply genuinely, use the loans and assets responsibly, and ensure timely repayment to allow others to benefit from the scheme.