Preparing for the future

With the advent of the Covid-19 pandemic, the share of African business leaders who feel confident about the economic situation in their countries of operation has dramatically plummeted, from 83% at the start of the year to around 25% currently. In this time of uncertainty, family businesses are struggling to be responsive, a trait of upmost importance in a crisis and one that is all too often a weak spot. How can family businesses instil a culture of agility, independence and innovation? How can they implement a leadership structure conducive to quick decision-making that allows them to come out on top of the current crisis? How can they make smart investments? How can they prepare for a new future and what will that future look like?

During the first ever Family Business Summit, more than 200 leading African family business leaders and shareholders will share their current and past experiences in order to turn the crisis into a source of opportunity. Over the course of six hours of conferences, themed workshops and networking events between economic leaders, the who’s who of the African family business world will also delve deeper into, through a practical approach, a number of key issues still facing them today: corporate governance, family governance, financing, generational handover, talent management, transaction structuring, etc.

As global multinationals readjust their investments on the continent, the continent needs African family businesses now more than ever – businesses with solid roots in their region that care about the positive impact they have on the population and development.

An interactive and innovative digital event, the Family Business Summit is the first step towards creating a pan-African community rallying around the ambition of its members to build a modern form of African family capitalism with a long-term perspective.

Major challenges

  • Family Business for Good: measuring your company’s impact and widening it
  • Agility and innovation in a time of crisis
  • Where is the global economy headed and what can we expect for Africa?
  • Secrets to staying power
  • Financing: how much of a controlling stake should your family have?
  • Managing family conflicts: preventing tensions
  • What techniques can be used to make the most of your holding company assets?
  • Smart ways to invest your wealth
  • How to create your foundation
  • Attracting, integrating and retaining  outside talent

Continuity and longevity: Why family businesses withstand crises ?

From Louis Dreyfus Holding to Merck, Cargill, Ford and many others, most of the world’s oldest companies are family owned. Ethical values, a constant ability to adapt, long-term planning and an entrepreneurial spirit: the longest-running family businesses demonstrate all of these characteristics, which contributed to their strength but did not guarantee their success. What lessons can be learned from the oldest family businesses that will allow you to build the essential foundations for the continuity of your company? Why are no two experiences alike?

  • Keynote

    Jennifer Pendergast

    Executive Director of the Center for Family Enterprises, Kellogg School of Management

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Family Business for Good: building your philanthropic activities

At a time when the Covid-19 pandemic has increased the importance of community outreach initiatives, this workshop will help you define your own philanthropic pathway by assessing the “why”, “what”, “who” and “how” of your investment in philanthropy. With IMD, you will work on the main dimensions of the institution’s “family philanthropy navigator” tool.

  • Expert

    Peter Vogel

    Director, IMD Global Family Business Center

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Continuity: Weathering the crisis with a cross-generational approach

A mere 13% of African family businesses are passed down to a third generation. To ensure success over the long term, family business owners have to prepare for the integration of new generations. The crisis provoked by covid-19 has shown that the nextGen – more internet-savvy than their parents’ generation – is better positioned to contribute the kind of agility and innovation family businesses need. Via a business case study, two generations of leaders explain how they are harnessing the current crisis to accelerate the pace of generational handover.

  • Expert

    Elmarie Venter

    Director, Nelson Mandela University family business unit

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Family cohesion: Building a long-lasting governance structure

Family businesses rarely formalise their family governance structure, despite the fact that they need one to reach their long-term objectives and ensure the stability of their company during crises. In this small group workshop, you will learn with the help of case studies how to create a family governance structure, define a strategic vision for your family business and formalise decision-making processes. The objective: ensure family harmony so as to guarantee the long-term viability of your company.

  • Expert

    Alan Barr

    Head of Family Business, KPMG

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