Omolabake Fasogbon
A summit will be held in Lagos and Ogun States, gathering over 150 experts to address the pressing challenge of ensuring the sustainability of family-owned businesses. The report indicates that only about 30 percent of family businesses in the country survive beyond the first generation, despite their impact on the economy.
The theme of the summit, “Family Business Legacy: Strategies for Building and Maintaining Multigenerational Wealth,” aims to offer valuable opportunities for collaboration and learning. The event will feature a six-hour in-depth discussion, a NextGen boot camp, themed workshops, and networking opportunities. In addition, Munzali Dantata’s book, “City Wall: We All Lived by Selling,” will be presented and launched during the program.
The summit will delve into critical topics such as corporate governance, financing, and generational handover, equipping participants with the necessary skills and expertise to drive innovation and success. The Convener, Oghenevwoke Ighure, emphasizes that family enterprise remains the backbone of Nigeria’s economy and must be preserved.
Esiri Agbeyi, Partner and Africa Family Business Leader at PwC, expresses enthusiasm for the robust conversations and engagements expected at the summit. PwC is proud to partner with Business Day for this summit, as they have a keen multi-disciplinary understanding of private wealth and family businesses. The theme of this year’s summit resonates with the key concerns of most family businesses: growing wealth, preserving legacy, and successfully handing it over to the next generation.