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Home»Politics»From the 2019 banking crisis to the 2026 McDan Aviation takedown: Are we repeating the tragic cycle of destroying our own?
Politics

From the 2019 banking crisis to the 2026 McDan Aviation takedown: Are we repeating the tragic cycle of destroying our own?

Ghana NewsBy Ghana NewsMarch 30, 2026No Comments8 Mins Read
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By: Frank Quaye

As a legal activist who closely observes the intersections of economics and politics in Ghana, I often find myself reflecting on the cyclical nature of our national development.

There is a great disconnect between the political rhetoric of empowering local entrepreneurs and the harsh realities these business owners face on the ground.

If you cast your mind back to the period between 2017 and 2019, the Ghanaian business landscape went through a deeply traumatic phase.

Under the banner of a financial sector clean-up, the previous government revoked the licenses of nine universal banks- including prominent indigenous institutions like uniBank and Beige Bank- alongside over 400 other financial institutions.

The regulators argued it was a necessary, albeit painful, surgery to secure depositor funds and fix weak regulations. However, the human and economic costs were staggering. We watched as the life’s work of many Ghanaian entrepreneurs crumbled, taking thousands of jobs down with them.

It was against this backdrop of economic despair that John Dramani Mahama, leading up to the recent elections, made a profound and resonant promise. He looked the Ghanaian business community in the eye and promised a ‘reset.’

He assured the nation that the indigenous businesses collapsed under the previous administration would be reviewed, and that businessmen and women who had been dealt a bad hand by government apparatchiks would see restoration. His message was clear and comforting: Ghana must protect its business people and empower its own.

His reasoning was rooted in a fundamental economic truth- no nation can achieve sustainable prosperity without protecting, empowering, and growing its own indigenous capital.

Fast forward to today, March 2026. The mandate to protect Ghanaian businesses is officially in the hands of the current administration. Yet, observing the highly publicised standoff between the state-owned Ghana Airports Company Limited (GACL) and the McDan Group, I cannot help but feel a deep sense of cognitive dissonance.

We seem to be witnessing the exact opposite of the protection and empowerment that was promised. The aggressive actions taken against McDan Aviation paint a deeply concerning picture of how the state interacts with its most vital economic pillars.

The timeline of events is troubling and spans multiple fronts. The dispute first gained public legal traction following a May 2025 High Court ruling that granted GACL full re-entry and possession of over 16 acres of prime airport land previously held by McDan subsidiaries.

GACL cited outstanding ground rents, seeking the recovery of $26,296 and securing GH¢50,000 in legal costs. While accountability for state assets is non-negotiable, the escalation that followed at Terminal 1 of the Kotoka International Airport has crossed the line from administrative enforcement into outright hostility.

In August 2022, McDan Aviation signed a landmark license agreement to operate Ghana’s first private Fixed Base Operation (FBO) at Terminal 1, investing millions to position Accra as a premium hub for private aviation. Recently, the company experienced a temporary delay in rent payments, a situation triggered by global economic pressures.

According to McDan Aviation, this brief administrative delay was rectified in good faith. More importantly, the contract governing their operations explicitly stipulates a 90-day notice period before any eviction can take place.

Yet, despite the payment, despite the 90-day clause, and most shockingly, despite GACL being formally served with a motion for an interlocutory injunction on March 10, 2026, the state agency chose the path of force. In blatant disregard for this judicial process, GACL officials reportedly stormed the terminal at 1:00 a.m. on March 11 to forcibly remove McDan Aviation’s property.

From an objective, legal, and business-minded perspective, this heavy-handed approach is dangerous. When state agencies use midnight raids instead of the boardroom or the courtroom, it replaces the rule of law with the rule of force.

To characterise a rectified administrative delay as a fundamental breach of contract- and to bypass judicial processes to execute a midnight eviction- sends a chilling message to the local and international investor community. It looks less like debt recovery and more like a deliberate attempt to collapse a thriving indigenous business.

When we talk about the McDan Group, led by Dr Daniel McKorley, we are not just talking about one wealthy man. We are talking about a vital pillar of the Ghanaian economic ecosystem. The benefits this conglomerate provides to the nation are tangible and far-reaching.

Through its subsidiary, Electrochem Ghana Limited, the group has invested over $88 million to transform the Songor Lagoon into Africa’s largest salt mine, currently producing 650,000 metric tonnes annually and employing over 3,000 locals, with a clear roadmap to expand to 7,000 jobs.

By investing millions to develop the Terminal 1 FBO, McDan Aviation single-handedly elevated Ghana’s status as a premium hub for private business aviation and foreign direct investment.

Beyond taxes and job creation, Dr McKorley’s social impact is unmatched. Through the McDan Entrepreneurship Challenge (MEC), the group provides $100,000 in seed funding and mentorship to young Ghanaians, actively shifting the youth mindset from “job seekers” to “job creators.”

They have constructed vital sports infrastructure like the McDan La Town Park- the nation’s largest AstroTurf- and the Teshie Sports Complex.

The McDan Foundation is a lifeline for ordinary Ghanaians, having donated critical dialysis machines to the 37 Military Hospital, provided permanent water solutions like the water tanks at the Ayalolo Cluster of schools, funded scholarships for over 300 students, rebuilt schools in deprived areas like Kalendi and Yendi, and provided financial aid to thousands of widows.

When a state agency moves to aggressively dismantle the operations of a company with this level of socio-economic footprint, the ripple effects are devastating. It doesn’t just hurt a CEO; it hurts the widow relying on the foundation, the youth employed at the salt mine, and the overall confidence of the Ghanaian private sector.

Given the polarised nature of Ghanaian politics, the rumor mill is naturally in overdrive. Because Dr McKorley’s businesses saw significant expansion in recent years, many are whispering that this midnight eviction is politically motivated payback.

However, I want to be unequivocally clear: I do not believe this is the doing of President John Dramani Mahama. The leader who has stated on countless occasions that he is a ‘father for all,’ and who explicitly campaigned on the promise of ending the victimisation of Ghanaian businessmen, would not orchestrate this.

It contradicts his core economic philosophy of shared growth. What is far more likely is that overzealous officials within the GACL are acting unilaterally, prioritising bureaucratic ego over national economic interest.

But because this is happening under his watch, it requires his immediate, progressive intervention. We cannot afford to repeat the mistakes of the past, where the strict application of regulations was used as a weapon to destroy indigenous capital rather than reform it. Accountability and business survival do not have to be mutually exclusive.

There is a better, mutually beneficial way to handle this. First, there must be an immediate respect for the rule of law and a de-escalation of hostilities. GACL must halt all extrajudicial enforcement actions and respect the pending court injunctions. The state must lead by example in showing that contracts and judicial processes are sacred.

Second, instead of fighting in the dark of night, the Ministry of Transport or the Presidency should facilitate high-level mediation. If there are lingering financial obligations or operational disagreements, they should be laid bare on the table.

A transparent, realistic, and restructured payment plan can be established. McDan Aviation has shown the capacity and willingness to pay; GACL just needs its revenue. This can be resolved with a calculator and a handshake, not a bulldozer.

Finally, we need a paradigm shift in state-business relations. State agencies must transition from a mindset of policing and punishing to one of partnering and enabling. GACL should view McDan Aviation not as an adversary, but as a primary tenant and partner in making Kotoka International Airport the premier aviation hub in West Africa.

When an indigenous company employing thousands faces operational headwinds, the state’s first instinct should be to engage and support, not to immediately revoke licenses and seize assets.

We are at a critical juncture in our national development. If we want to build a resilient economy that isn’t entirely dependent on foreign aid and multinational corporations, we must jealously guard our indigenous success stories. Dr McKorley and the McDan Group have proven their immense value to the Ghanaian people.

It is time for the government to step in, call its agencies to order, and prove that the promise to protect and empower Ghanaian businesses was not just a campaign slogan, but a genuine, living blueprint for our shared prosperity.

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