Family-owned businesses across Africa are being urged to strengthen succession planning and governance as a major transfer of wealth looms and more founders prepare to hand over control to the next generation.
Strathmore Business School, Standard Chartered, ALN and the Association of Family Business Enterprises (AFBE) have launched an executive programme on Monday targeting family business owners, next-generation leaders, policymakers and experts.
The programme will focus on governance, succession planning, wealth preservation and strategies for managing transition risks as family enterprises expand across generations and markets.
According to PwC’s Africa Family Business Survey 2025, 66 per cent of African family businesses reported sales growth. However, governance remains a challenge, with only 77 per cent having formal structures and just 21 per cent having dispute-resolution procedures.
Research by the Family Business Institute shows that only 30 to 40 per cent of family businesses make the transition to the second generation, while 12 to 13 per cent reach the third generation and just 3 per cent survive beyond the fourth.
The institutions say informal decision-making, limited board independence, undocumented succession plans and inadequate preparation of younger family members are increasing the risks facing businesses during leadership transitions.
Strathmore University Vice Chancellor Dr Vincent Ogutu said family businesses remain important to Africa’s economic development and long-term prosperity.
“Family businesses have played a pivotal role in driving economic growth across Africa. Their continued success depends not only on entrepreneurial vision, but also on strong governance, responsible leadership and effective succession planning. This programme reflects Strathmore University’s commitment to developing leaders and institutions that create sustainable impact for generations to come.”
The programme brings together the expertise of the four institutions, with Strathmore Business School providing academic and executive education leadership, Standard Chartered offering wealth management and financial stewardship expertise, ALN providing legal guidance on governance, succession and estate planning, and AFBE contributing practical experience from family businesses across the region.
Standard Chartered said the partnership strengthens its role in helping families prepare for succession and preserve wealth across generations.
Edith Chumba, Head of Wealth & Retail Banking, Kenya and East Africa, Standard Chartered, said: “Family businesses are central to Africa’s enterprise and wealth creation story. As more founders prepare for generational transition, strong governance, succession planning and wealth continuity are becoming business-critical. Through this partnership, Standard Chartered is supporting families with the insights and tools they need to build resilient institutions, prepare future leaders and preserve wealth across generations.”
The push for structured succession planning comes as wealth transfers accelerate globally.
Africa has an estimated US$2.5 trillion in investable wealth and more than 122,000 dollar millionaires, with the number of millionaires projected to rise by 65 per cent over the next decade.
In Kenya, between 6,800 and 7,200 dollar millionaires hold an estimated US$90 billion in assets, while more than US$80 trillion is expected to be transferred between generations globally.
The executive programme will run from September to November 2026 and feature three intensive modules for founders, next-generation leaders, family office representatives, board members and senior executives.
The sessions will cover governance, succession, wealth preservation, legal and tax considerations, conflict resolution and business continuity.
Participants will also receive three post-programme mentoring sessions to help them implement governance, succession and wealth management plans within their businesses.