Daniel Mckorley, the president and chief executive officer of the McDan Group of Companies, has urged business people in the nation to be resolute and make the most of the current macroeconomic circumstances to lay the groundwork for enterprises that can grow beyond national borders by utilizing the Africa Continental Free Trade Area (AfCFTA).
The ability to look beyond the boundaries of this country should be their goal this time around, he claims, just as businesses were able to innovate and adopt technology to survive the shocks of the COVID-19 pandemic in 2020. However, this time around, entrepreneurs must show the same tenacity to survive.
He added that the hardship being experienced now does not spell all doom or gloom, but rather key attention must be paid to the significant level of ease of mobility that has been restored through technology.
“As I always say, in adversities like these real leaders emerge; stronger and more resilient countries are seen; and able countries take advantage to become the new economic force. And similarly, it is in times of adversities like this that innovative entrepreneurs emerge and become the world’s new game-changers.
It is not all doom and gloom; this is the time when Ghanaian entrepreneurs must take advantage of what is happening and launch products that will penetrate the AfCFTA. This is because it is in times like these that we see stronger businesses, and I believe this is the opportunity for vibrant, strong, young entrepreneurs to get ready and lead the fourth industrial revolution,” he said.
Dr. Mckorley further mentioned that his organisation is committed to promoting trade in the sub-region and has signed a memorandum of understanding (MoU) with the AfCFTA secretariat to provide logistics support for easy mobility of goods and services.
“My company’s partnership with AfCFTA will be a critical contributor to the transformation we want to see on the African continent. The agreement will spearhead industrial transformation and economic development, boost intra-Africa trade, and create employment.
“All businesses looking at exporting cargo should note the McDan Group of companies is here to facilitate that trade and bring growth to the economies of Africa,” he said.
He mentioned that unless the goods are able to move from one country to another, all the boardroom discussions and MoUs signed will be meaningless; hence, entrepreneurs must take advantage of the transportation logistics that his outfit is providing to ensure their goods reach all countries on the continent.
He made these remarks at the Ghana Economic Forum (GEF) 2022 – an annual event organised by the B&FT – on the theme ‘Building a robust and resilient economy through technology, finance, investment, trade and entrepreneurship’.
The AfCFTA secretariat has adopted a special instrument described as the Guided Trade Initiative (GTI), which has set the ball rolling for commercial trading to commence for the first seven countries to have met all requirements and expressed strong readiness.
Ghana is one of the first seven countries to start trading under this arrangement, and the McDan CEO believes that if entrepreneurs are able to think beyond the borders and take advantage of available logistical support they could be lead beneficiaries of the continental trade area.