Experts urge succession plans for Uganda family firms
Family businesses in Uganda need formal plans to pass control between generations or risk failure. Leaders met on Friday at a Kampala hotel for the third Enjovu Family Business Conference. Organizers partnered with I&M Bank Uganda to address how companies can prepare younger family members for leadership roles.
Robert Waggwa Nsibirwa from Buganda said seven out of 10 family firms fail before the second generation takes charge. Nearly nine out of 10 collapse before reaching a third generation of leaders. Irfan Hajee from Graphic Systems urged parents to let children work in factories and shops under other managers to gain real experience.
Mariam Luyombo told owners to hire based on skills rather than family connections. Elizabeth Kibuuka said transparency helps younger members value what they inherit. Robin Bairstow from I&M Bank said his institution offers investment and financing services to help family enterprises grow and maintain wealth.
