McDan Group reveals how COVID-19 led to $4 million monthly losses
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McDan Group reveals how COVID-19 led to $4 million monthly losses

- Daniel McKorley, chief executive officer (CEO) of the McDan Group, has opened up about the challenges facing his business

- He said his company loses about $4 million every month due to the effects of COVID-19

- McKorley added that the McDan Group has been one of the hardest hit since the pandemic broke out

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The chief executive officer (CEO) of the McDan Group, Daniel McKorley, has opened up about some of the losses incurred due to COVID-19.

According to him, the company has lost over $4 million every month since the pandemic began.

He said his company, the McDan Group, has been one of the hardest hit companies in the country.

READ ALSO: Do not sell goods and services in foreign currencies - Bank of Ghana warns business owners

McKorley, who is into aviation and logistics, explained that aircraft are no longer carrying cargo or passengers, which has led to a downturn in finances.

Per a report by Business Insider, he added that there is a need to take a step back in order to rethink business strategies.

McKorley went on to say that businesses need to re-engineer themselves, develop new plans, and be more inward in thinking.

YEN.com.gh earlier reported that Parliament has approved a request by the government with regard to a waiver of taxes for four local companies.

The companies are all operating under the ‘One District, One Factory’ initiative which is designed to promote industrialisation, boost investments, and create jobs.

YEN.com.gh understands that the waiver affects Import Duties, Import VAT, GETFund Levy, Import NHIL Levy, and EXIM Levy.

READ ALSO: Africa Facts Zone lists the 8 biggest economies in Africa

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Source: Yen.com.gh

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