McDan Group signs MoU with Kenya to facilitate trading under AfCFTA

The Executive Chairman of the McDan Group, Dr. Daniel McKorley, is optimistic that a Memorandum of Understanding (MoU) between McDan Group and the government of Kenya will yield significant results in the implementation of the AfCFTA.

Dr. McKorley believes that this move will result in a financial turnover of about $1 billion as his organisation positions itself as a key player in facilitating the seamless movement of goods across the continent under the free trade pact.

In an interview with CNBC Africa, the McDan Group Chairman explained that they are making strategic investments in port infrastructure and logistics, particularly in Kenya, as part of efforts to bridge trade gaps and overcome existing barriers between West and East Africa, specifically between Ghana and Kenya.

“The MoU is intended to facilitate business between the countries, and it is quite comprehensive. We are moving almost 100 containers with an annual turnover of about US$1 billion. However, it involves more support services for each country, which is why it is bilateral,” he said.

He emphasised that infrastructure remains a key component of implementing trade activities under AfCFTA, adding that making these investments is crucial for the successful movement of goods and services across the continent.

As a free trade area connecting 1.3 billion people across 55 countries, with a combined Gross Domestic Product (GDP) of US$3.4 trillion, the AfCFTA, which is headquartered in Ghana, promises immense new markets, accelerated industrialisation, and fresh investment opportunities.

MA

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