By Deborah Pofara Luu
Abigail Elorm Mensah, the newly appointed Chief Executive Officer (CEO) of the Microfinance and Small Loans Centre (MASLOC), has committed to improving the organization’s loan recovery rate, currently at 51%.
During her official takeover ceremony in Accra, she stated, “The more the money is gotten back, the more other people will also benefit from it,” emphasizing her goal to increase this rate significantly.
The CEO of MASLOC aims to implement strategies that will ensure compliance and enable borrowers to benefit from their loans effectively. She expressed her vision for a more accessible MASLOC, stating, “If you want to apply for a MASLOC facility, you would not have to journey all the way to get it. You would be in the comfort of your home and be able to access the facility.”
This initiative includes leveraging digitalization to create a paperless operation.
Reflecting on her tenure, Mensah said, “Whoever takes over from somebody will want to do better than the predecessor… I want to move the institution further than it was.” She acknowledged the solid foundation left by her predecessor, Hajia Abibata Shanni Mahama Zakariah, and expressed her intent to build on it.
A key focus for Mensah will be empowering women farmers by creating markets for their produce, thereby ensuring they can repay their loans on time. Addressing concerns about corruption within MASLOC, she assured stakeholders that “my story will be different,” and called for discipline and cooperation among staff to facilitate smoother operations.
With her leadership experience and commitment to enhancing MASLOC’s services, Abigail Elorm Mensah is poised to lead the organization toward greater financial accessibility and support for small businesses in Ghana.
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