Welcome to PwC’s 2021 East Africa Family Business Survey report.
This is our first report covering the East Africa region, although we have published three editions previously in Kenya on a biannual basis since 2014. Our survey shows that disruption impacted the growth prospect for family-owned businesses, at least in the short term, but that the owner generation is very clear about their priorities going forward.
The purpose of this report is to share the results of our survey as well as insight into the reasons why family business owners responded as they did. The report is supplemented with many points of view that are invaluable to understanding the family business sector in East Africa.
Family businesses tend to place a high premium on trust, seeing it as a key component of their license to operate. Trust within the family, trust in their suppliers and customers, and trust between their businesses and other stakeholders are sustaining features amongst these businesses, especially during periods of significant disruption.
The strong fundamentals that are the hallmark of family businesses - commitment to values, long-term thinking, sensible leverage - puts them in a strong position for faster recovery from disruption.
Understanding these nuances, amongst others, is a key objective of this publication.