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Business News of Tuesday, 27 November 2018


It's a shame for people to join boards just for allowances - McDan Group CEO

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Chief Executive Officer of the McDan Group, Daniel McKorley has said the country is at a stagnated stage and left to constantly cite successful businesses in the west because of the poor mentality and attitudes of individuals here.

He described as shameful the mindset with which some respected figures joined boards of businesses adding that people were on them because of monetary allowances among other things.

“… we’re talking about corporate governance today, we have board members who sit on boards because of board allowances; it’s a shame.” He chimed

The 29 year experienced business mogul stressed that there was the need for Ghanaian businesses to strive to be pragmatic while aiming to be global influencers in the same vein.

Mr. McKorlay chided stakeholders of the various sectors for the unanimous usage of foreign companies as examples during interactions with entrepreneurs and students explaining that Ghana was in a different terrain.

“…it’s a shame that we’re always talking about the Microsofts, Apples and the rest. When a Ghanaian business comes here to give lectures and speeches, we always setting out examples of the foreign companies. When I was writing this speech I felt sad because I couldn’t pride of five Ghanaian companies that I could use as examples. The Interplasts are there, the Kasaprekos are there. You go to our universities, we use foreign companies to teach our children, meanwhile we’re living in a different environment”, he stated.

The 2017 Charter Institute of Marketing Ghana Man of the Year was delivering his keynote address at the 2nd Ghana Small and Medium scale Enterprises (SMEs) and Young CEOs Summit at Kempinski.

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