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 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.
“The practice where products and goods from the region have to be first shipped outside the region and brought back has to stop,” he noted.
Dr Mckorley added that financial institutions and the government must also work to give meaning to this proposal.
The Executive Chairman of McDan Group 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.
Dr. Mckorley joined other panellists, including Banking Chiefs and CEOs of some Multinational Groups at the AFREXIM Bank sidelines discussions in the Bahamas, looking at how to improve Intra- African trade, with the look at the Africa Trade Gateway.
AFREXIM Bank and Africa Trade Gateway
The Africa Trade Gateway is a dynamic digital trade ecosystem for commercial banks and their trading platforms.
It is 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.
The Group Chairman of McDan Group lamented 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.
“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.”
Dr Mckorley highlighted how platforms like Africa Trade Gateway have helped in making payments in local currencies across the continent, and that the necessary support should be given to AFREXIM as it is also giving to a lot of African businesses.
“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.
