Accra: Dr Daniel McKorley, the Executive Chairman of the McDan Group, has made a compelling call for policymakers to establish a supportive environment for entrepreneurship across Africa, emphasizing its crucial role in achieving developmental milestones. Speaking at The Regal Influence Summit organized by KRIF Foundation in Accra, he highlighted the potential of free enterprise to tackle unemployment and other challenges plaguing the continent, urging robust backing for emerging businesses.
According to Ghana News Agency, Dr McKorley stressed the importance of a long-term perspective for investors and advocated for established businesses to mentor and collaborate with nascent enterprises. He remarked, "Entrepreneurship is not about privilege; it is about possibilities, and Africa is full of possibilities. With the world's youngest and fastest growing workforce, Africa cannot rely on government employment or foreign aid to absorb its youth."
The summit, themed 'Commanding Influence, Shaping Nations,' attracted a diverse group of government officials, policymakers, financial executives, and business leaders from various African countries. The event served as a platform for sharing experiences aimed at guiding young businesses towards growth and success.
Reflecting on his entrepreneurial journey, Dr McKorley argued that African entrepreneurs are uniquely positioned to address the continent's challenges. He pointed to the Africa Continental Free Trade Area Agreement (AfCFTA) as a significant opportunity for entrepreneurs, noting that adequate capital support and mentorship are essential for leveraging this initiative.
Dr McKorley cited the McDan Entrepreneurship Challenge, which supports innovative business ideas, as a model for similar initiatives in academia and the private and public sectors. He further emphasized that entrepreneurship is about crafting individuals who can sustain businesses.
The Ga Mantse, King Tackie Teiko Tsuru II, represented by Nii Adote Odaawului, called on African leaders to create opportunities for citizens, emphasizing the need for collaboration over competition. He noted the importance of delivering tangible outcomes rather than offering empty promises.
Rev Kennedy Okusun, the Executive Chairman of KRIF Ghana Limited, described the forum as a convergence of power, conscience, and legacy, urging stakeholders to transition from rhetoric to responsibility and from personal achievements to continental legacy. He asserted that Africa's rise depends on deliberate nation-shaping actions by those in influential positions.
The forum's discussions covered a range of topics including gender and development, banking, finance and investment, Pan-Africanism, and entrepreneurship.