APD 2026: Dr. Daniel McKorley champions SMEs as the engine of Africa’s economic growth

The Executive Chairman of McDan Group, Dr. Daniel McKorley, has urged African entrepreneurs, particularly women and youth, to seize the opportunities presented by the continent’s single market. He therefore emphasized that small and medium-sized enterprises (SMEs) are the backbone of Africa’s economy.

Speaking during Day 2 of the 2026 Africa Prosperity Dialogues (APD) at the Accra International Conference Centre (AICC) on Thursday, 5th February 2026, Dr. McKorley recounted his own entrepreneurial journey, recalling how he dropped out of school in 1996 and began trading maize across Ghana, eventually expanding into coffee. “During that journey, I noticed 90% of those I was dealing with were women. That is where I grew my love for women entrepreneurs,” he said.

Highlighting Africa’s demographic and economic potential, Dr. McKorley noted, “By 2050, one out of every four people you see will be African. We have the youngest workforce on earth, rising innovation hubs, expanding cities, and a continental market now unified under the African Continental Free Trade Area.” Despite this, he warned, intra-African trade still lags at 15–18% compared to nearly 60% in Europe and Asia, likening the situation to “having a massive family but buying from strangers instead of trading with each other.”

Dr. McKorley stressed that SMEs are not a “side story” but the economy itself, providing up to 80% of jobs across Africa. However, he acknowledged persistent challenges, including high transport costs, inconsistent customs processes, and fragmented regulations, which often make moving goods within Africa more expensive than shipping to other continents.

“I’ve been in logistics and shipping for three decades, and I eat, sleep, and breathe logistics. This is a problem, but it is a system problem, not a market problem,” he said.

To address these barriers, Dr. McKorley called for digital systems, one-stop shops at border posts, and mutual recognition of standards to harmonize trade practices. “Harmonization is not a technical detail. It is the difference between a small business scaling or shutting down,” he said.

The McDan Group has taken proactive steps to enhance connectivity within Africa, including the Black Star Line and the Conduct Trading Company, aimed at facilitating cargo movement by sea and air. Dr. McKorley stressed that without infrastructure—ships, trucks, ports, rails, and logistic networks, trade cannot thrive. “If you don’t connect these, trade is not yours. You only talk about trade,” he emphasized.

Dr. McKorley also highlighted the importance of empowering women entrepreneurs, who own a significant portion of informal businesses yet face major financial barriers. Through the McDan Group’s interest-free loan initiatives, over 5,000 female entrepreneurs have been supported to scale up their businesses.

Dr. McKorley further called on governments, financial institutions, and the private sector to work together to create an enabling environment for SMEs, noting that enterprise, not just employment, is key to absorbing Africa’s growing workforce. “If we get this right, a small agro-processor in Tamale, a fashion entrepreneur in Nairobi, or a tech startup in Kigali will not think of themselves as local businesses. They will think and operate as an African business. This is our moment. Move from potential to production, from conversation to commerce,” he said.

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