Executive Chairman of McDan Group, Dr Daniel Mckorley has called on African
Merchants to own the logistics and shipping space in a bid to protect their business
interests.
For him, it is one of the surest ways to aid intra-African trade while dealing with some of the
challenges that face African firms and businesses with regard to the movement of good goods in
the region.
He noted that “The practice where products and goods from the region have to be first shipped
outside the region and brought back has to stop.”
Dr Mckorley added that financial institutions and the government must also work to give
meaning to this proposal.
Executive Chairman of McDan Group, Dr Daniel Mckorley was making a strong case for more
Africans to own the logistics and shipping space during Afreximbank Annual Meeting in Nassau,
Bahamas from June 12-15, 2024.
He believes that this is one of the surest ways to aid intra-African trade and deal with some of the
challenges that most African firms face when it comes to moving goods in the region.
He noted that “The practice where products and goods from the region have to be first shipped
outside the region and brought back has to stop.”
Dr Mckorley added that financial institutions and the government must also work to give
meaning to this proposal.
Dr Daniel Mckorley said this when he joined other panelists, including Banking Chiefs and
CEOs of some Multinational Groups at the AFREXIM Bank side discussions in the Bahamas,
looking at how to improve Intra- African trade, with the look at the Africa Trade Gateway.
AFREXIM Bank and the Africa Trade Gateway
The Africa Trade Gateway is a dynamic digital trade ecosystem for commercial banks and their
trading platforms. It’s one of the initiatives put together by the African Export and Import Bank
to aid trade in the region.
It offers what can be described as a B2B marketplace for customers to transact more and
generate more income.
McDan Group Chairman on AfCFTA and Trade on the continent
The Group Chairman of McDan Group maintained that “It is not fair that, when I produce in
Africa, the product has to go Europe, before coming to a country like Senegal, that is not fair and
it has to change.”
This is increasing my cost as a producer and someone in the logistics space” the Group Chairman
of McDan Group added.
“Whoever controls the sea, controls the business, and if we don’t have connectivity in Africa,
that becomes a big challenge for all of us” he lamented.
Dr Mckorley highlighted how platforms like Africa Trade Gateway have helped in making
payments in his local currency across the continent, and said the necessary support should be
given to AFREXIM in terms of the support that they are giving to a lot of African businesses.
He maintained that “The African Free Trade Area deal, or call it AfCFTA, has helped him a lot
in terms of doing business in Africa.
“It is now more stressful to do because in Africa, even though a lot of work still needs to be
done,” the Chairman of McDan Group added.
