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FirstBank urges continuity, structure as family businesses contribute $200bn to GDP

FirstBank urges continuity, structure as family businesses contribute $200bn to GDP
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African family firms must act now to secure their future

Apr 23, 2021
Africa’s family business leaders are optimistic and ambitious about their growth and economic recovery for 2022.
Although the overall outlook for family businesses is positive, business owners will need to address the challenges and opportunities that come with digital transformation, family governance and succession planning as well as addressing sustainable business practices.
These are some of the key highlights from PwC Africa’s Family Business Survey 2021 released today.
The majority (89%) of African family businesses anticipate a return to pre-pandemic growth rates by 2022 – this level of optimism is impressive given that no rollout of Covid-19 vaccines had been approved when the survey was conducted. ....

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