Dr. McKorley Archives - McDan Group

June 18, 2024

Executive Chair of McDan Group Calls for African Leadership in Shipping


Dr. Daniel Mckorley, Executive Chair of McDan Group, has issued a compelling plea for increased African ownership in the logistics and shipping sectors to bolster regional trade dynamics. Speaking at AFREXIM Bank’s forum in the Bahamas, Dr. Mckorley emphasized the imperative to curtail reliance on external routes that inflate costs and logistical complexities for African enterprises.


“The current practice of exporting goods outside Africa only to re-import them is unsustainable,” Dr. Mckorley underscored. He urged financial institutions and governments to champion local ownership initiatives, enhancing operational efficiencies and economic resilience across the continent.



AFREXIM Bank Initiative: Africa Trade Gateway

Dr. Mckorley spotlighted AFREXIM Bank’s Africa Trade Gateway as a transformative platform empowering intra-African commerce. This digital ecosystem fosters seamless B2B transactions among commercial banks, driving economic growth and fostering income generation within Africa.

Impact of AfCFTA

Addressing the African Continental Free Trade Area (AfCFTA), Dr. Mckorley acknowledged its role in simplifying intra-African trade processes. Yet, he stressed the critical need for enhanced regional connectivity and logistical infrastructure to maximize its potential benefits.

Challenges and Vision

“Control over sea routes dictates business outcomes,” Dr. Mckorley lamented the logistical hurdles stifling intra-African trade. He highlighted platforms like Africa Trade Gateway as pivotal in facilitating cross-border transactions and advocated sustained support for AFREXIM Bank’s initiatives.

In conclusion, Dr. Daniel Mckorley’s impassioned call for heightened African participation in logistics and shipping underscores a transformative moment in the continent’s economic narrative, emphasizing the urgency of indigenous capacity-building to propel sustainable development and economic integration.

Source : News Ghana

June 17, 2024

Executive Chairman of McDan Group, Dr Daniel Mckorley is making a strong case for more Africans to own the logistics and shipping space.

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 panellists, 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.

Source: MyJoyOnline

March 28, 2024

By Ernest Bako WUBONTO

With women-led businesses standing tall in terms of loan payback and the ability to sustain growth steadily, experts posit that it is time to inspire more women into entrepreneurship.

Leading the initiative to inspire women is Dr. Daniel McKorley, Chairman of McDan Group. He explained that with women comprising over half – 50.7 percent – of the population, their proven excellence in sustainable business management and a remarkable 96 percent loan payback rate position them as the prime candidates to drive entrepreneurship.

Dr. McKorley, who spoke in Accra at the maiden Women in Business (WIB) dialogue series organised by the B&FT, demanded that more should be done to empower and inspire more women to engage in entrepreneurial endeavours.

“Let’s inspire more women into entrepreneurship because experience has shown over the years that women are more committed to business operations than men. Women businesses are the mainstay of the informal economy and this is because they have the right attitude and mindset toward business,” he said.

Dr. McKorley reiterated that the economy cannot achieve meaningful growth without the rightful contributions of women, who constitute the majority and consistently bring dynamic solutions to the table.

Supporting the growth of women, he added, is synonymous with investing in society for sustainability as women’s business profits are often reinvested to expand their ventures, support household needs and invest in their families.

How to inspire women?

To appropriately inspire women into entrepreneurship and ensure they attain success, Dr. McKorley outlined the following: improvement in financial literacy knowledge among women for them to make informed decisions.

Another approach is to motivate women to make bold decisions and take calculated risks; thus, moving out of their comfort zone to take up roles in fields dominated by men.

Furthermore, he called for mentorship programmes – both formal and informal – to support women. Lastly, he stressed the importance of helping women build confidence and belief in themselves.

Role of GEA in encouraging entrepreneurship among women

Chief Executive Officer (CEO) of Ghana Enterprise Agency (GEA), Kosi Yankey-Ayeh, on her part, reiterated the need to empower more women into entrepreneurship and financial independence.

She concurred that for any meaningful economic transformation to occur at a national level, it is imperative to empower women to own and lead business endeavours, particularly ventures that extend beyond traditionally reserved gender roles.

The CEO, however, highlighted several challenges that hinder women entrepreneurs, including limited access to finance, insufficient regulatory support services, difficulty in keeping pace with technological advancements and accessing e-commerce platforms.

“Over the past seven years, we have developed various programmes that ink female entrepreneurs to various financial opportunities through targeted loans programmes such as the CAP Business Support Scheme (CAPBusSS), which provided financial support in the form of loans and grants to over 300,000 businesses,” she said.

Despite these efforts, she noted that market access remains a major stumbling block for most women-owned businesses.

Explaining further, she said: “We must provide women entrepreneurs with training to access financial support and break into markets – both domestically and abroad”.

Held under the theme ‘investing in women-owned businesses for Ghana’s transformation agenda: a call for action’, the WIB was led by notable female executives from various sectors, alongside accomplished corporate and business leaders.

The inaugural WIB served as a platform to offer insights into harnessing the potential of women-led businesses.




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