Different generations of family business leaders and stakeholders, including financial experts, convened at Four Points by Sheraton, in Kampala, on Friday, October 17, for the third annual Enjovu Family Business Conference.
Organized in partnership with I&M Bank Uganda, the conference serves as a key platform for discussions around family business sustainability.
Run under the theme- ‘Succession Planning for Family Businesses: Developing the Next Generation of Leaders,” the event had a lineup of seasoned business leaders and financial experts, share transformative insights and experiences on the sustainability of family businesses in Uganda and beyond.
In his opening address, Owek. Robert Waggwa Nsibirwa, the Deputy Katikkiro of Buganda and Patron of the Enjovu Family Business, expressed concern over the worrying trends of family businesses failing to survive beyond their founders.
Owek. Nsibirwa highlighted that about 70% of family businesses are not able to transition to the next generation, while nearly 88% do not make it to the third, challenges he largely attributes to poor succession planning.
“Lack of succession planning is a silent thief that steals fortunes, shatters families, and wipes out decades of hard work. Success is never permanent if you don’t plan for the future,” Owek. Nsibirwa said.
“Succession planning for family businesses is not a choice but an obligation. Continuity is not a matter of prayer; it has to be a system. You cannot wait until you’re on your deathbed and hope that everything will be fine. Continuity must be planned and built into a system,” he added.
The Guest of Honor, Irfan Hajee, Director of Graphic Systems (U) Ltd (GSUL), a second-generation family-run business, emphasized the importance of involving the next generation in the business early. Drawing from his own experience, he explained that he began helping with family business tasks at a young age.
“That experience taught us to respect the community and the people who keep businesses running day to day. And to appreciate the effort behind every success. My advice to any family thinking about transitioning is simple; let the next generation join the factory, the shop, or wherever it all begins. Most importantly, let them work under someone other than you. That is how they will truly learn,” he said.
Hajee added that for him and his family, the transition was smooth, as most structures were already in place, and he urged other family businesses to follow a similar approach.
“Our structures were established years ago, so when it was time to transition, all the legalities were relatively well managed. We did not have to struggle with lawyers, accountants, or bankers, to update directorships, shareholding details, and other formalities. My father’s will was clear, and we all knew its contents, which helped us avoid any family disputes,” he explained.
Keynote speaker, Mariam Luyombo, Founder of Taibah Schools (first generation), sighting an example of Singapore, that continues to employ English nationals and other experts, because of the need for specific skills to maintain global competitiveness, urged family businesses to hire the right talent, not just relatives.
“Family businesses need to be professionally run to ensure sustainability. Attract the right talent, and remain competitive across generations,” Luyombo said.
Luyombo highlighted that parents running family businesses need to be realistic about their children’s capabilities, in order to plan succession effectively and provide the right guidance and support.
Elizabeth Kibuuka, Founder of Enjovu Family Business, advised family business leaders to present a balanced perspective of their enterprises to the younger generation, highlighting both successes and challenges, rather than only complaints.
She emphasized that this helps spark interest in joining the business. She also encouraged leaders to clearly communicate their expectations to the next generation.
I&M Bank, which also began as a family business, has over time expressed its commitment to supporting family-owned enterprises, by offering solutions tailored to their needs.
While speaking at the conference, I&M Bank CEO Robin Bairstow stated that I&M Capital, the bank’s wealth management company, is now fully operational in Uganda, and should be considered a strategic partner for those looking to grow and preserve wealth across generations.
“I&M Capital focuses on client portfolio optimization and investment advisory, helping clients decide when to buy or sell local fixed income instruments and equities. We also manage money market funds through short-term, highly liquid assets, provide access to offshore trading in international equities and funds, and offer loans secured by government bonds, to help clients leverage their existing investments,” Bairstow stated.
Bairstow added that the bank has customised financial products for businesses, including SMEs. “The Tukikube ne I&M Bank campaign is still ongoing. Through this initiative, we are empowering SMEs with knowledge, tools, and services that support informed decision-making and sustainable growth.”
Annette Nakiyaga, Head of Marketing and Corporate Communications at I&M Bank, highlighted the importance of the bank’s partnership with the Enjovu Family Business platform.
“Family businesses have produced some of the biggest brands globally, but many do not survive beyond one generation due to inadequate succession planning. This partnership is therefore crucial in helping family businesses plan for the future and ensure continuity,” she said.
Aside expert speeches and panel discussions, the event featured Q&A sessions, breakout sessions for different generations, group discussions, and networking opportunities.
The Enjovu Family Business Conference will head to Tanzania on Friday, November 21, 2025, at the Hyatt Regency Dar es Salaam.
