Africa’s family businesses face rising continuity risks as ageing founders, wealth transfer and governance gaps test succession readiness.
Against this backdrop, Strathmore Business School, Standard Chartered, ALN and Association of Family Business Enterprises [AFBE] have launched an executive programme to strengthen family business governance, succession readiness and wealth preservation. The programme convenes family business owners, leaders, policymakers and experts to address succession, governance and wealth stewardship risks.
According to PwC’s Africa Family Business Survey 2025, 66 per cent of African family businesses reported sales growth, but governance remains a pressure point: only 77 per cent have formal structures and 21 per cent have dispute-resolution procedures. Family Business Institute research shows only 30–40 per cent transition to the second generation, 12–13 per cent to the third and 3 per cent beyond the fourth.
These gaps, alongside informal decision-making, limited board independence, undocumented succession plans and weak next-generation preparation, heighten transition risks as family enterprises expand across sectors, jurisdictions and generations.
Dr. Vincent Ogutu, Vice Chancellor of Strathmore University said family businesses remain central 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 combines the expertise of four institutions. Strathmore Business School will provide academic and executive education leadership; Standard Chartered will contribute wealth management and financial stewardship expertise; ALN will provide legal perspectives on governance, succession and estate planning; and AFBE will share practical insights drawn from supporting family businesses across the region.
For Standard Chartered, the partnership reinforces its role as a trusted adviser to families seeking to strengthen governance, plan 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.”
Africa’s wealth transfer is raising the urgency for structured succession planning. The continent holds an estimated US$2.5 trillion in investable wealth and more than 122,000-dollar millionaires, with millionaire numbers projected to grow 65 per cent over the next decade. In Kenya, 6,800-to-7,200-dollar millionaires hold about US$90 billion in assets, while more than US$80 trillion is expected to pass between generations globally.
Running from September to November 2026, the programme will deliver three intensive modules for founders, next-generation leaders, family office representatives, board members and senior executives, covering governance, succession, wealth preservation, legal and tax considerations, conflict resolution and business continuity, with three post-programme mentoring sessions to support implementation.
Participants will leave with practical governance, succession and wealth management roadmaps to strengthen business resilience, alongside a peer network of family business leaders across Africa.
