The Head of Finance at Micro Finance and Small Loans Centre, MASLOC, Francis Bandoh, has testified before an Accra High Court that the 500,000 investment loan for Obaatanpa Microfinance was approved by the then Chief Executive Officer, Sedinam Tamakloe.
According to Mr Bandoh who is the fifth prosecution witness in the trial of the former boss of MASLOC and one other, Daniel Axim, Obaatanpa Microfinance placed a request for one million Ghana Cedis investment fund, which MASLOC was not in the position to give but Madam Tamakloe bent on giving the funds to the company, approved the 500,000.
He indicated that Obaatanpa before the approval of the ¢500,000 earlier requested for ¢150,000 investment facility which was approved.
He further explained that after the ¢500,000 cheque was received by obaatanpa, it failed to pay interest on the amount as agreed by the parties.
Following this failure on the part of Obaatanpa, several demand notices were sent to the company but no response was received on any of them.
This compelled Mr. Bandoh to complain to Madam Tamakloe, his boss, at the time who said she will follow up and report back to him, a promise that was never fulfilled.
Mr Bandoh told the court that even on the last day of the former CEO’s tenure in office, he confronted her on the same issue but she gave him the same response.
Mr. Bandoh revealed these while being led by a State Attorney to give his evidence in chief at a high court presided over by Justice Afia Serwaa Asare-Botwe.
