This is straight forward and should work in both Kshell and bash. After the loop executes two arrays (indexed 0 to n-1) will exist:
i=0
sed 's/.*=//; s/,/ /' your-file >/tmp/tfile.$$
while read a b
do
names[$i]="$a"
locs[$i]="$b"
(( i++ ))
done </tmp/tfile.$$
rm /tmp/tfile.$$
The code above can be done in Kshell without using a tmp file; pipe the output from the sed directly into the while. Unfortunately that won't work in bash which is why I presented it the way I did.
This code below is more cryptic, but doesn't require the use of a tmp file to work in bash: