The Enjovu Family, in partnership with I&M Bank Uganda Limited, held the fourth annual Enjovu Family Business Conference at the International School of Uganda, in Lubowa, on Friday, October 16, 2026.
The event attracted three generations of business leaders from various sectors, including agriculture, legal, education, manufacturing and industry, among others.
In his opening remarks, Owek. Robert Waggwa Nsibirwa, the Deputy Katikkiro of Buganda and Patron of Enjovu Family Business, emphasised the growing importance of conversations around family business sustainability, noting that preserving a legacy requires more than passing wealth from one generation to another.
“The journey we are on becomes more important every day. Today, we are talking about how we can secure the legacy of this wealth. When we write a will, we hope for the best, but we cannot will a legacy; a legacy has to be lived every day,” Nsibirwa said.
He further urged families to make discussions about business, wealth and responsibilities part of their everyday lives, adding that the values that define a family business must be institutionalised to ensure they are upheld by future generations.
“Values are in every aspect of life. In our family, we value education so much that when someone wants to marry into the family, we inquire about their educational background, sometimes even more than their wealth. That is how deeply our values shaped our decisions and the kind of family we wanted to build.
“For family businesses, values must be clearly defined, communicated and embedded in the way the business is managed and passed on to the next generation. It is not enough to talk about values; they must be reflected in our decisions, our leadership and how we treat one another. We must institutionalise these values so that they outlive the individuals who established the businesses. That is how we preserve not just wealth, but also the principles, purpose and legacy upon which that wealth was built,” he added.
I&M Bank Uganda Executive Director and Chief Operations Officer, Sam Ntulume, highlighted the importance of planning for both business succession and wealth management, noting that the bank understands the journey of family enterprises because it also started as a family business with values that are still in place 50 years later.
Ntulume noted that while building a successful enterprise is an important achievement, business owners also needed to consider how the wealth generated is preserved, managed and transferred to future generations.
“Business owners must consider how to manage the wealth their enterprises generate. Building a successful business is one achievement; preserving and growing its wealth is another. Succession planning must address both who takes over the business and how accumulated wealth is transferred to future generations,” Ntulume said.
He also highlighted the investment and wealth-management solutions offered through I&M Capital, which was recently launched in Uganda as part of the wider I&M Group.
“I&M Capital complements the bank’s services with investment advice tailored to customers’ objectives and risk appetite, covering local government securities and equities, money-market investments, and offshore opportunities through international equities, exchange-traded funds and mutual funds,” he noted.
The conference was presided over by Mr Manish Varsani, from Tororo Cement, a third-generation business leader, as Guest of Honor.
He emphasised the importance of upholding the values instilled by the founders and ensuring that family members prioritise the interests of the business.
“Respect the company as your mother,” Varsani said, urging family members to treat the business as an institution that must be protected and sustained.
He acknowledged that disagreements are inevitable in family businesses, but said that a shared commitment to growing the enterprise should remain essential. Recalling a difference of opinion over the pace of expansion, Varsani said he had wanted to grow the business rapidly, but a family member advised him to slow down.
He also emphasised the importance of putting God first, respecting parents and hiring the right people to support the growth of the business.
“Whatever you do, keep God first. Our founders always kept God first. First is God, then our parents. If you have their blessings, the business will do well,” he said.
The keynote address was delivered by Canon Dr. Ruth Ssenyonyi, a counselling psychologist, who spoke about healing family dynamics to protect family business legacies.
Ssenyonyi highlighted the importance of trust, love, unity and discipline in relationships between spouses, siblings and other family members, noting that unresolved family challenges can affect business performance and continuity.
She warned that family businesses are not only threatened by external competition, but also by internal disagreements and the failure of some family members to take responsibility for their actions. She added that financial pressures, divorce and other family challenges undermine business stability.
“Functional families provide a stronger foundation for successful and sustainable businesses. When families invest in building healthy relationships, fostering open communication and nurturing trust among their members, they create an environment in which family businesses can thrive. Working on our families is therefore just as important as working on our businesses, because the strength of the family ultimately influences the resilience, continuity and long-term success of the business,” she said.
Counsel Sophia Nampijja, a legal expert and partner at Katende, Ssempebwa and Company Advocates (KATS), highlighted the importance of putting clear legal and succession arrangements in place to protect family wealth and ensure a smooth transition from one generation to the next. Among other issues, she discussed the role of wills in expressing a person’s wishes, reducing uncertainty and helping to prevent disputes over family assets and business interests.
“Families should not wait until a crisis occurs before seeking legal advice. Early guidance can help prevent disputes. It is also important to review succession plans regularly so that they remain relevant as family and business circumstances change,” Nampijja said.
Annette Nakiyaga, the Head of Marketing and Corporate Communications at I&M Bank Uganda, highlighted the bank’s continued commitment to supporting family businesses through financial solutions that address their growth, financing needs and broader financial objectives, irrespective of the sectors in which they operate.
“Regardless of the sector in which these businesses operate, we are committed to being a trusted financial partner, providing the support and expertise they need to grow sustainably, strengthen their businesses and secure their legacy for future generations,” Nakiyaga said.
The conference also featured a question-and-answer session, during which attendees engaged with the speakers on issues affecting family businesses.
Group discussions brought together participants from different generations to exchange ideas and perspectives on preserving wealth, strengthening family relationships and sustaining businesses for the future.
