Ghanaian business mogul Daniel McKorley, popularly known as McDan, called on African leaders and investors to strengthen support for small and medium-sized enterprises (SMEs), women, and youth as key drivers of the continent’s economic growth during Day 2 of the Africa Prosperity Dialogue in Accra.
Speaking before political and business leaders from across Africa, McKorley emphasised that SMEs are not merely a side story in Africa’s economy they constitute its backbone, accounting for 80 percent of businesses and providing the majority of jobs across the continent.
“SMEs are the economy,” he said, highlighting that empowering entrepreneurs, particularly women and young people, is essential for turning Africa’s single-market ambitions into reality. He noted that while Africa has access to a population of 1.5 billion, intra-African trade represents only 15 to 18 percent of total trade, compared with nearly 60 percent in Europe and Asia.
McKorley, who has over three decades of experience in logistics and shipping, described the structural and logistical barriers that limit intra-African commerce. High transport costs, inconsistent customs procedures, fragmented regulations, and poor connectivity, he said, often make moving goods within Africa more expensive than exporting them abroad.
“This is not a market problem it is a systems problem,” he said. “We must make trade practical for SMEs through digital systems, one-stop border posts, and mutual recognition of standards. Harmonisation is not a technical feature; it is the difference between a small business scaling or shutting down.”
More Read
He urged the private sector to play a greater role in bridging gaps in infrastructure and logistics, citing examples from his own operations under the Mandan Group and the African Trading Company, which set up cargo vessels and planes to facilitate intra-African trade.
McKorley also addressed gender and youth inclusion, noting that women own around 10 percent of formal businesses but dominate the informal sector, yet face some of the highest barriers to finance. “This is not just a gender issue—it is an economic inefficiency,” he said. Through targeted initiatives such as interest-free loans, his organisation has supported thousands of entrepreneurs in scaling and aggregating their businesses.
He stressed that millions of young Africans enter the job market each year, but employment opportunities are not growing fast enough. “The answer cannot only be jobs it must also be enterprise,” he said, urging governments to simplify regulations and remove trade barriers, while investors design financial products that work for SMEs, youth-led start-ups, and women-led businesses.
More Read
McKorley said Africa’s single market has the potential to create jobs at scale, deepen industrialisation, strengthen regional value chains, and retain more wealth within the continent. He highlighted that a small agro-processor in Ghana, a fashion entrepreneur in Kenya, or a tech start-up in Rwanda should not see themselves as local businesses, but as African businesses capable of scaling continent-wide.
“This is our moment to move from potential to production, from conversation to commerce,” he said. “Let us innovate boldly, collaborate across borders, and train with each other. SMEs are the engine of every African economy, and empowering them is central to realising Africa’s growth potential.”
The Africa Prosperity Dialogue, now in its fourth year, brings together political, business, and thought leaders to promote economic integration and shared prosperity, aligned with the African Union’s Agenda 2063. The three-day forum, running from February 4 to 6 in Accra, focuses this year on “Empowering SMEs, Women & Youth in Africa’s Single Market: Innovate. Collaborate. Trade.”
