McDan Group, led by Ghanaian tycoon Daniel McKorley, to expand into the Caribbean

Oluwatosin Racheal Alabi -

Key Points:

  • McDan Group plans to expand operations into the Caribbean, starting with Grenada, to enter new markets and absorb economic shocks.
  • The expansion will include logistics, shipping, aviation services, and the salt business, involving some Ghanaian businesses.
  • St. Lucia is being considered as a potential hub for McDan Group’s operations in the Caribbean, with strong support from local government officials.

McDan Group Executive Chairman, Dr. Daniel Mckorley has revealed plans to expand the company’s operations into the Caribbean before the end of the year. He explained that this is driven by a desire to enter new markets, which will help the group better absorb economic shocks in the future.

Dr. Mckorley hinted that Grenada might serve as the initial base for this expansion, allowing the group to further extend its reach into other Caribbean countries. He shared this after a high-level meeting with Prime Minister of Grenada Dickon Thomas Mitchell on the sidelines of the AFREXIM Annual Meetings in Nassau, Bahamas.

Expressing his excitement about the initial engagements with Grenadian government officials, Dr. Mckorley said: “Our expansion drive has also been influenced by requests coming from some of these countries outside Ghana, looking at the good work that we are doing in Ghana.”

Focus areas and the Caribbean expansion initiative

According to Dr. Mckorley, the McDan Group will expand several of its operations to the Caribbean, including logistics, shipping, aviation services, and the salt business.

“There are a lot of opportunities in that region, and the necessary feasibility has been done to ensure that the partnership and necessary synergies materialize for the group going forward,” he noted.

Additionally, Dr. Mckorley disclosed plans to involve some Ghanaian businesses in this expansion drive. He also emphasized the need to support Ghanaian enterprises.

“I have already engaged some Ghanaian businesses, and even some of the businesses, especially the SMEs, are with me on this trip to the Caribbean,” he said.

He mentioned that a real estate developer and a major player in the fintech industry accompanied him to the AFREXIM meetings, underscoring the collaborative nature of this expansion.

As part of his Caribbean expansion initiative, Dr. Mckorley visited St. Lucia to engage with senior government officials from trade, commerce, investment promotion sectors, and the Deputy Prime Minister. He revealed that after visiting various port areas, the decision was made to participate in St. Lucia’s port and logistics sector.

The Minister of Commerce, manufacturing, business development, corporate and consumer affairs, Hon. Emma Hippolyte mentioned that St. Lucia could potentially become the hub for McDan Group’s Caribbean operation and expressed the government’s support for McDan Group’s investment.

“We will take up this issue at the cabinet level because we are having a cabinet meeting today. This shows you how, at the government level, we are serious about the situation,” she stated.