Building bridges for Africa’s next generation of family businesses

Across the African continent, family businesses remain an essential driver of private-sector growth, creating jobs, sustaining communities, and shaping national economies. As these businesses expand beyond their home markets and move into second and third-generation leadership, many are undergoing a fundamental shift: from founder-led models to structured, multi-generational institutions.

This transition brings opportunity, but also complexity. Families are navigating questions of succession, governance, and purpose, all while balancing growth with continuity. Increasingly, they are seeking strategic partners who understand not just their business, but their family dynamics too.

It is within this context that the inaugural FBN-IESE Africa Workshop took place in April 2025. Organised by the Family Business Network and IESE Business School, the event brought together African and international family business leaders to reflect on these challenges — and to share solutions. MCB’s Private Wealth Management and Global and International Corporates (GIC) teams were present to contribute their perspective, drawn from years of advising families on how to align enterprise goals with long-term personal and generational strategies.

Pratima Nundoosingh , Manager of Strategy & Projects at MCB Private Wealth, Arvind Purmessur, Team Leader at MCB Global and International Corporates and Elizabeth Le Guen, Senior Private Banker, MCB Private Banking International participated in the IESE Business School - Africa Workshop.

From preservation to progression

Family businesses represent over 60% of registered companies in Mauritius and up to 80% of private-sector employment in many African economies. But survival through generations is far from guaranteed: only 30% of family firms reach the second generation, and just 10% make it to the third.

The challenge lies in maintaining unity while allowing for change. Next-generation leaders are bringing fresh ideas, but often struggle to introduce innovation without disrupting family cohesion. Structured governance, succession frameworks, and clearly articulated values are becoming essential tools for long-term resilience — especially for families looking to expand beyond their home markets.

“The conversations we had at the workshop reflect what we see on the ground every day,” said Pratima Nundoosingh, Manager of Strategy & Projects at MCB Private Wealth. “Families want to grow, but not at the expense of their identity. Our role is to help them find that balance — especially as they begin looking outward, across Africa.”

MCB’s role: supporting African families at every stage

MCB has been actively supporting family enterprises across Africa as they scale, diversify, and pass on the baton. This support is delivered through a collaborative approach between the Private Wealth Management and GIC teams. Together, they align business ambitions with personal wealth strategies while taking into account governance structures, succession goals, and investment preferences.

“The needs of family businesses today cut across both corporate and private spheres,” explained Arvind Purmessur, Team Leader at MCB Global and International Corporates. “Our clients are often navigating expansion, financing, and intergenerational transitions all at once. That’s why we work in tandem — to offer holistic support that blends commercial expertise with personal advisory.”

The bank’s regional presence allows it to design solutions that are cross-border by nature but deeply personal in approach. Whether supporting a generational shift or helping families enter new markets, MCB operates at the intersection of legacy and leadership — offering clarity in moments of transition.

Mauritius: a prominent international financial centre

While MCB’s activity spans the continent, Mauritius remains a natural base for many of its clients. With its strong legal frameworks, political stability, and international financial ecosystem, the island offers a solid foundation for families looking to consolidate holdings, structure family offices, or prepare for regional expansion.

But as Pratima notes, “Mauritius is not the final destination. For many families, it’s the springboard and platform — a place to pause, plan, and look outward.”

The future of African family businesses lies in their ability to evolve while staying true to their roots. With rising generational complexity and growing cross-border ambition, families are seeking advisors who understand their unique context. MCB’s combined Private Wealth Management and GIC teams empower African families to lead with clarity, grow with purpose, and build legacies that endure across generations.

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