AFBS 2024

Africa Family Business Summit 2024

Statement of Purpose

Family Business Governance: Governing your family business into the future.

Governance is the process of making decisions and the process by which decisions are implemented. It is the heartbeat of every organisation. In other words, governance is the influencing factor to which the people in organisation are being led as well as the allocation of resources. Good governance practices strengthen companies by building relationships among investors, boards of directors, managers, and employees. Implementing corporate governance guidelines allows businesses to obtain capital at lower cost, enhances business strategy, and attracts the best human capital.

Opening Arts

Cultural Performace

Dr. Sydney O. Vanderpuye

Director of Finance, ECOWAS Bank for Investment and Development

Partners Remarks

I am honoured to address this esteemed gathering as the Director of Finance for the ECOWAS Bank for Investment and Development. It is a privilege to represent an institution committed to driving economic development, fostering innovation, and supporting the growth of family enterprises in the region. As a primary sponsor of this summit, the ECOWAS Bank for Investment and Development reaffirms its dedication to empowering generations and sustaining family businesses in Africa.

Dr. Dennis O. OTENG

CEO & Convener Ravens Consulting / Africa Family Business Summit

Theme Exposition

“Family businesses are the backbone of our economies, contributing significantly to innovation, job creation, and community development. The theme for this year, “Family Business Governance – A Key Strategy for Continuity,” underscores the pivotal role that effective governance plays in ensuring the sustainability and growth of family enterprises across generations”

Hansatu Adegbite

National Consultant, Private Sector Partnerships - UN Women

Welcome Message

Welcome to Nigeria and the vibrant city of Lagos! On behalf of the local organizing committee, we are thrilled to host you at the third edition of the Africa Family Business Summit. It is an honor to bring together such a distinguished group of family business leaders, advisors, and stakeholders from across the continent

AFBS 2024

Key Takeaways

Structured Governance

Implementing formal governance structures like family councils and boards of directors can help balance family and business interests.
Education and Training

Continuous learning and participation in governance training programs are crucial for the next generation to bring fresh perspectives and professionalize the business.

Communication

Open and transparent communication within the family and business is essential for overcoming resistance and fostering trust.
Balancing Legacy and Innovation

The next generation should respect the legacy of the founding members while also introducing new ideas and innovations to ensure the business’s long-term success.