The Microfinance and Small Loans Centre (MASLOC) has disbursed an amount of GH₵1 million to some 500 victims of the recent fire outbreak at the Akim Oda Central Market.

The disbursement of the loan was in accordance with the promise of President Akufo-Addo to provide financial support to the affected traders to resuscitate their businesses.

Speaking in an interview, the MASLOC CEO, Abibata Shanni Mahama Zakaria said the amount was distributed to 20 groups.

Thus, each person is expected to receive GH₵2,000.

She further added that the loans are interest-free with a one-year moratorium.

“We are here at the instance of the President Nana Addo Dankwa Akufo-Addo. The president when he was on a tour in the Eastern Region, came to inspect the damages and then he promised that MASLOC was going to assist the market women together with Ghana Enterprises Agency. Right now, we have come to fulfil the promise that the president has made,” she said.

The Senior Advisor to the President, Yaw Osafo-Marfo charged the beneficiaries to desist from using the money for other expenses.

He urged the victims to rather use the funds to expand their businesses to ensure they pay back the loans in time.

On their part, the beneficiaries expressed their gratitude to President Akufo Addo for coming to their aid.