McDan Advocates Ownership Of Shipping And Logistics Space By Africans

The ownership of the logistics and shipping space by Africans is one surest ways to boost intra-Africa trade, Executive Chairman of McDan Group, Dr Daniel Mckorley has stated.

According to him, the move will help resolve the challenge of moving goods within the Africa region without transiting through other regions and back.

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 the 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.

credit: myjoyonline