“Yes, the COVID-19 has been destructive in many ways of our lives. But destructive events can catalyze change for the better. We are witnessing the awakening of a new world order.”
“Business will not be as usual after the crisis. An obvious change after the crisis will be an increased confidence in technology.”
“Online payment systems will be radicalized and institutions will have no option but to subscribe to digital service delivery.”
The above statement was made by The vice President, Dr. Mahamudu Bawumia on Tuesday, May 12, 2020 in Accra during the lunch of the integrated IT system to support Microfinance and Small Loans Centre (MASLOC)
The MOSLOC System
The system was design to effectively help provide funding to small and Medium Scale Enterprises (SMEs).
This however includes the unbanked customers who form a greater percentage of the informal sector of the economy.
During the Lunch, The Vice President acknowledged how COVID 19 has been destructive in our lives by far.
As a result of that, he added businesses would need to embrace technology in most of their service delivery.
Mr. Stephen Amoah, The Chief Executive Officer of the organisation, also indicated the need-fullness of the system and how it will help boost the economy.
At the lunch, The Chief Executive Officer, Stephen Amoah explained that, applicants would receive results to their application within 24 hours and that is the expectation.
The card need to contain information such as the applicant’s Tax Identification Number, Ghana Post GPS address
The Card can be used on ATM machines.