According to Ghana Music Live, the said loans acquired over the period with the assistance of MUSIGA amounts to over GHC1,000,0000.
This news has been received with much shock and deemed as untrue in most quarters of the industry.
Checks by Ghana Music Live, however, indicate that this is indeed true and beneficiaries include several veteran musicians, A-list artistes and record labels.
These loans were acquired over a period with the financial institution, Midland Savings & Loans.
This was under a scheme called the ‘Musiga Ajumapa Business Loans’ which had low interest rates and relatively collateral free and guaranteed by the Union to enable her members access funds for their projects.
Sources close to the erstwhile Midland Savings and Loans General Manager lists Rex Omar, Kojo Antwi, Samini, Okyeame Kwame, Tic Tac, Kaakyire Kwame Appiah, Celestine Donkor, Ben Brako, A.B Crentsil, Raquel, Charles Anaman, John Owusu and Lynx Entertainment as part of the beneficiaries of this scheme.