Group Chairman of McDan Companies advocates reduction in cost of cargo to aid AfCFTA

Mr. Daniel McKorley, Group Chairman of the McDan Group of Companies has strongly made a case at the ongoing AfCFTA meeting in Kigali, on finding ingenious solutions to reducing the cost of cargo and improving Intra-African trade on the continent.

He emphasised that improving Intra-African trade hinges on the improvement of logistical support for goods to be moved within the continent with less stress and cost to the customer.

The Group Chairman of MacDan Companies made these remarks on Friday, 11th October, 2024 while contributing to 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 being held at the Kigali Convention Centre in Kigali.

In tackling the problems associated with Intra-African trade, Mr. McKorley revealed his company's intention of starting Black Star Line and the Black Shipping Company by procuring two cargo planes and a vessel to begin with. He asserted, "whoever controls the air and controls the sea controls the business. It's imperative and incumbent on us to start something. That is the solution we're bringing into the business", shared Mr. McKorley.

He enunciated, "it's unthinkable that in the 21st century when cargo is being moved from Ghana to Senegal for example, it has to go through Belgium before coming back to Senegal. These are real problems that increase the cost of cargo, hindering business growth and development in Africa", he stressed.

Mr. McKorley was of the opinion that for the Continental Free Trade to work and be successful, it was very imperative upon African governments and businesses to find logistical solutions to its problems. To solve this, according him, "we're also building warehouses across the continent to make sure goods move at the right cost, customs and also at the right freight rate. Let's think globally and act locally", he underscored.

The plenary discussions were moderated by Mr. Godfred Mutziwa (Journalist, CNBC Africa), with Dr. Paul Adalikwu (Secretary General, MOWCA) who opened the session, with the following as speakers: 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 AfCFTA Business Forum, dubbed "Biashara Afrika 2024 (#BA 2024)" is being held at the Kigali Convention Centre. It started on the 9th and expected to end on October 11, 2024 under the patronage of the Rwandan President, H. E. Paul Kagame. This year's edition, themed 'Dare to Invent the Future of the AfCFTA', #BA2024 will provide an engaging and dynamic platform for continued dialogue between African public and private sectors, multinationals and key stakeholders regarding the challenges and opportunities in the process of building regional and continental value chains and establishing reliable supply chain networks, which are essential to unlocking the full potential of intra-African trade.