Experts have called for deliberate and structured succession planning to safeguard the legacy of family-owned businesses in Uganda and beyond.
Family business leaders, financial experts, and entrepreneurs gathered at the Four Points by Sheraton Hotel in Kampala on Friday for the third annual Enjovu Family Business Conference, a dialogue focused on sustaining family enterprises across generations.
Held under the theme, “Succession Planning for Family Businesses: Developing the Next Generation of Leaders,” the conference — organised in partnership with I&M Bank Uganda — highlighted that without deliberate succession mechanisms, even the most successful family empires risk collapse.
Opening the session, Owek. Robert Waggwa Nsibirwa, the Deputy Katikkiro of Buganda and Patron of the Enjovu Family Business, sounded the alarm over global statistics showing that 70 percent of family businesses fail to transition to the second generation, while nearly 88 percent collapse before reaching the third.
“Lack of succession planning is a silent thief that steals fortunes, shatters families, and wipes out decades of hard work,” Nsibirwa said.
“Continuity must be built into a system — it cannot be left to chance or prayer.”
Irfan Hajee, Director of Graphic Systems (U) Ltd, shared his experience growing up in a second-generation enterprise, emphasizing the importance of practical exposure.
“Let the next generation join the factory, the shop — wherever it all begins,” he said. “Let them work under someone else. That’s how they truly learn.”
Hajee attributed his family’s smooth leadership transition to well-structured governance and legal clarity, stressing that preparation must start early.
In her keynote address, Mariam Luyombo, Founder of Taibah Schools, urged business owners to prioritize competence over kinship when hiring.
“It’s not genetic that your children will have the same business instincts,” she said. “Train them, guide them, but also bring in professionals to sustain the vision.”
Elizabeth Kibuuka, Founder of Enjovu Family Business, encouraged transparency and mentorship in succession processes. “Show the young generation both the victories and the struggles — that’s how they’ll value what they’re inheriting,” she noted.
Representing I&M Bank, CEO Robin Bairstow reaffirmed the institution’s commitment to supporting family enterprises through tailored financial solutions such as I&M Capital, which provides portfolio management, offshore investment, and SME financing.
“We’re empowering family-owned businesses to grow sustainably and preserve wealth across generations,” Bairstow said.
