The International Finance Corporation (IFC), a member of the World Bank Group, has convened its 1/3 Family Governance Workshop in Ghana, bringing in combination Ghanaian family-owned company to deal with some of the decisive elements for indigenous organization resilience – a success generational transitions that protected long-term continuity.

Hosted below IFC’s Integrated Environmental, Social, and Governance (IESG) Advisory program, with give a boost to from the Swiss State Secretariat for Economic Affairs (SECO), the workshop bureaucracy a part of an ongoing initiative to equip kin companies with governance constructions for sustainable, multi-generational asset allocation.

Family-owned enterprises shape the spine of Ghana’s economic system, using task introduction, finance, and neighborhood capital injection. Yet globally, 95 p.c of kin companies don’t continue to exist previous the 1/3 era, steadily because of succession making plans gaps, vulnerable governance methods, unmanaged asset allocation, and unresolved kin conflicts.

Moez Miaoui, chief of IFC’s ESG Advisory in Africa main a dialogue on the 1/3 IFC Family Governance Workshop

The workshop tackled the core enablers of multigenerational resilience, together with:

• Aligning kin values with skilled company methods
• Preparing next-generation leaders early and deliberately
• Establishing structured conflict-resolution mechanisms
• Building governance frameworks that support each the kin and the organization

“Family-owned businesses are not just important to Ghana’s economy. They are critical to shaping legacies that endure across generations,” Kyle Kelhofer, IFC Senior Country Manager for Ghana and Liberia stated. “Navigating generational transitions requires preparing next generations to lead, supporting incumbents to let go, and ensuring succession happens smoothly and intentionally. This improves operations, preserves wealth, and even enhances access to finance,” he persevered.

Participants represented ranged from first-generation founders to third-generation leaders. Common issues mentioned incorporated succession anxieties, keeping up entrepreneurial power, organising governance constructions that keep kin cohesion, and reconciling company wishes with kin expectancies.

Drawing on cross-border enjoy, lead facilitator, Moez Miaoui highlighted the universality of those demanding situations: “Whether you are working with a first- or fifth-generation business, the patterns are remarkably similar. Family governance is fundamental to sustaining enterprises that drive job creation across Europe, Africa, South Asia, and East Asia,” he defined.

Mr. Miaoui emphasised succession as a two-way procedure: “Successors need to convince you they are ready, and you need to convince them they want to take over. It is a two-way street. Passion cannot be forced; it must be cultivated and transferred authentically.”

Mr. Kelhofer underscored IFC’s self belief in Ghanaian kin companies to develop domestically and globally, pointing out: “Ghana has outstanding family enterprises that could become major regional players and cross-sector champions. They reach a point where they can either remain small or scale, creating opportunities for gowth, investment, and legacy.”

The workshop, the 1/3 within the ongoing collection, displays sturdy call for from Ghana’s company neighborhood. Mr. Kelhofer famous: “Like going to the gym, governance improvement is something we work on regularly. Feedback shows participants keep returning, demonstrating the value of these sessions.”

The workshop structure mixed knowledgeable facilitation with peer-to-peer finding out, enabling individuals to percentage stories, discover sensible methods for succession making plans, clash decision, wealth preservation, and put into effect governance frameworks that steadiness kin values with company wishes.

Reaffirming IFC’s long-term give a boost to, Mr. Kelhofer stated: “We stand ready to provide tailored advisory solutions and investment tools to help family businesses build stronger, more resilient enterprises for generations to come. Our mission is to help these businesses achieve beyond what they currently imagine, potentially becoming leading local corporates and even global players.”

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made via Readers and Contributors in this platform don’t essentially constitute the perspectives or coverage of Multimedia Group Limited.