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How Ghanaian business mogul McDan made $1M at 28, lost everything, and bounced back

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Meet Daniel McKorley, a Ghanaian businessman. McKorley, who was born on June 17, 1971, in Ghana’s capital Accra, clawed his way out of poverty to found the McDan Group of Companies, a transportation and logistics firm with activities in freight and contract logistics.

McDan Shipping, McDan Aviation, and McDan Logistics are among his companies. According to reports, his firms are well-known in Sierra Leone, Equatorial Guinea, Liberia, and his native nation of Ghana.

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His Accra-based McDan Shipping Company also has branches in Tema and Takoradi. Furthermore, as a result of its collaboration with Cross Trades and the World Cargo Alliance (WCA), it has a presence in over 2000 major air and sea ports globally.

According to the firm’s website, the company is also the first and only Freight Forwarding firm in Ghana to get an Air Carrier License for handling chartered cargo aircraft and is now the GSA for various airlines.

According to Ghanaian media, the businessman is one of the country’s richest businesspeople. However, his exact net worth is unknown, while some Ghanaian news websites believe he is worth between $600 million and $1 billion.

His path to success was not without difficulties, as it has been for countless businesses throughout the world. On December 23, the entrepreneur spoke at a startup event in Accra, Ghana, about how he made his first $1 million at the age of  28 and lost all four years later.

“I made my first $1 million at the age of 28 years…you know one funny thing. I lost it all at the age of 32. Life is funny and there’s something called attitude,” he revealed.

McKorley blamed his losses on a lack of proper business principles and understanding at the time, according to Modern Ghana. “To make money you need to apply certain principles, understanding and having the right attitude to make money,” he advised.

The entrepreneur was recently in the headlines for showing interest in acquiring Nottingham Forest of the English Premier League. According to the industrialist, he has been a long-time fan of the team.

The 52-year-old billionaire is also a fan of Accra Great Olympics, a Ghana Premier League team.

“The only team I support in the world apart from Oly [Acrca Great Olympics] is Nottingham Forest,” he stated, according to Ghana’s Joy FM. “I have been a supporter of Nottingham Forest when Nottingham was even in the third division. Why? Because I want to buy that team. I want to buy Nottingham Forest imagine with all this development going on.”

If the takeover is successful, he says he would ensure that more Ghanaians get the opportunity to play for the team. “McDan buys Nottingham Forest and every time you see about 60% of the players [in the team] from the English league are from Ghana,” he went on to say.

MccKorley Commercial Private Jet Services has announced the acquisition of two additional planes to its inventory. The move demonstrates the company’s dedication to growing and cementing its position as one of Africa’s first private jet service providers.

The two planes he owns are the Beechcraft King Air b200, a seven-seater aircraft that will mostly operate in Ghana, the West Africa sub-region, and on occasion in other regions of Africa.

The second plane, an Airbus EC135 T1 helicopter, will travel anywhere in Ghana and West Africa to provide clients with scenic helicopter tour views, as well as serve as a secondary medical transfer to connect topographically separated hospitals, assisting patients in reaching facilities for appropriate medical attention.

 

 

 

 

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