The McDan Group of Companies is planning to revive the defunct Ghana Black Star Line by acquiring two cargo aircraft and shipping vessels to launch an African shipping line.
This African shipping company is determined to promote the prospects provided by the African Continental Free Trade Area (AfCFTA) accord, much like the now-defunct Black Star Line.
The first president of Ghana, Osagyefo Dr. Kwame Nkrumah, formed the formerly-owned Black Star Line (BSL) in October 1957 when his administration commercially engaged representatives of Zim, the Israeli National Shipping Line, with an initial capital of 500,000 pounds.
The Black Star Line (BSL), which was a source of pride for Ghanaians in the 1970s, was modelled after Marcus Garvey, an American civil rights activist who founded the Black Star Line, a black-owned and -operated shipping company that connected America, the Caribbean, and Africa and provided direct access to shipping and tourism opportunities, in 1919. Because of theft and poor administration, it perished.
For several decades, Black Star Line, one of the most well-known international cargo service providers, handled major corporate accounts' air freight, ocean freight, projects/BB handling, vessel chartering, customs clearance, and transportation needs while providing comprehensive end-to-end handling solutions.
Unfortunately, because its activities ceased, the firm was forced to dissolve.
The initial aim for Ghana was to operate the ships that traveled between the continent and Europe, bringing in goods like equipment and cement while also exporting products. The ships went to North America and the Mediterranean as the firm grew, but in the end, trade volumes and the shipping line's capacity made it unprofitable to continue operating. As a result, the company's fleet was finally sold in the late 1990s.
Border restrictions are among the primary difficulties that experts in the marine industry of Africa believe would obstruct the success of the AfCFTA. Yet, if there were an African shipping line, there might be the guarantee of seamless transit commerce among African governments, boosting enormous sources of wealth with the assurance of strong marine security and governance in coastal countries.
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