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Sustainable Development in Africa: the importance of family enterprise

Video guest: Josephine Mwangi

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Thursday, 15 March 2018

Sustainable Development in Africa: the importance of family enterprise

The European Union’s external investment plan has mobilized €44 billion of sustainable funds for Africa and EU Neighbourhood countries. The European Commission has singled out five areas of investment, so-called “investment windows”, in which the first actions of the External Investment Plan (EIP) will be implemented. These investment areas are crucial for sustainable development in countries in Africa and the EU Neighbourhood countries. Micro, Small and Medium-Sized Enterprises (MSMEs) will have the ability to grow significantly. New Europe has taken the opportunity to investigate examples of already established, multinational family businesses groups enjoying significant success in the African market. In the emerging markets of sub-Saharan Africa, family enterprises have all the necessary advantages. The business environment requires companies that are value-driven, can leverage a network and are built for the long-term. Family-owned companies across Africa make up around 80% of all businesses, forming a growing and essential backbone for many of the continent’s economies. Part of their strength undoubtedly lies in a deep understanding of their markets and industries, derived from years of personal relationships with stakeholders across the value chain.

Source: neweurope