McDan advocates reduction in cost of cargo to improve AfCFTA implementation

Daniel McKorley, Group Chairman of the McDan Group of Companies, has strongly advocated for finding innovative solutions to reduce the cost of cargo and improve intra-African trade on the continent at the ongoing AfCFTA meeting in Kigali.

He emphasised that improving intra-African trade relies on enhancing logistical support for moving goods within the continent with less stress and cost to customers.

The Group CEO of McDan Companies made these statements on Friday, October 11, 2024, during a plenary discussion on the topic "Leveraging Trading Companies and Strategic Partnerships for Intra-African Trade," monitored by Nyansa TV at the ongoing AfCFTA meeting at the Kigali Convention Centre.

In addressing the challenges of intra-African trade, Mr. McKorley disclosed his company's plans to launch Black Star Line and the Black Shipping Company by acquiring two cargo planes and a vessel to initiate the process.

He asserted, "Whoever controls the air and sea controls the business. It is crucial for us to take action and implement solutions."

He added, "It is unacceptable that in the 21st century, cargo from Ghana to Senegal, for example, must go through Belgium before reaching Senegal. These challenges inflate cargo costs, impeding business growth in Africa."

McKorley believed that for the Continental Free Trade to succeed, it is vital for African governments and businesses to address logistical challenges.

To address this, he stated, "We are establishing warehouses across the continent to ensure goods move efficiently, with proper customs procedures and freight rates. Let's think globally and act locally."

The plenary discussions were moderated by Mr. Godfred Mutziwa (Journalist, CNBC Africa), with Dr. Paul Adalikwu (Secretary General, MOWCA) opening the session. Speakers included Mr. Daniel McKorley (McDan Group), Mr. Felix Chege (CEO, Real Resources), Ms. Nevine Nakhla (El Gondy Trading Company), Ms. Babalwa Ngonyama (Global CEO, Sinayo Group), Dr. Fareed Kwesi Arthur (Coordinator, Ghana National AfCFTA Coordinating Office), and Mr. Rahul Mittal (Director Intra Africa Sales, Arise).

The second edition of the AfCFTA Business Forum, known as "Biashara Afrika 2024 (#BA 2024)," is taking place at the Kigali Convention Centre. It began on October 9 and is scheduled to conclude on October 11, 2024, under the patronage of the Rwandan President, H. E. Paul Kagame.

This year's theme, 'Dare to Invent the Future of the AfCFTA,' #BA2024 aims to facilitate discussions between African public and private sectors, multinationals, and key stakeholders on the challenges and opportunities of building regional and continental value chains and establishing reliable supply chain networks to unlock the full potential of intra-African trade.