Some operators of Micro and Small Scale Enterprises in the Eastern Region have asked the Social Investment Fund to review its loans procedure to facilitate access to loans. They said the current process is cumbersome. This came to light at a media dialogue with the operators on the theme, “providing credit to the Micro and Small Scale Enterprise sector – the role of SIF” in Koforidua.
It was organised by the Ghana Journalists Association under the project, “using the media to strengthen business advocacy.” The operators emphasized the need for the SIF to monitor the process of accessing loans to avoid misappropriation by the banks. The Acting Executive Director of SIF, Joseph Acheampong said his outfit has supported more than 16,000 Micro Enterprises to the tune of GHC 4 231,910 at the first half of this year. He said out of this amount, Eastern Region got GHC 229,000.
Mr. Acheampong explained that as part of its activities to support poverty reduction, the fund has in place micro finance scheme that enhance access to loans by the productive poor, by increasing availability of micro finance
