The bi-annual event gathered family business leaders, advisors, and peers to explore strategies for ensuring the sustainability of family enterprises across generations.
The Enjovu Family, in collaboration with I&M Bank Uganda, hosted the latest edition of the Enjovu Family Business Conference at the Sheraton Kampala Hotel.
This bi-annual event gathered family business leaders, advisors, and peers to explore strategies for ensuring the sustainability of family enterprises across generations.
The conference, themed "Family Governance - Managing Conflict and Building Family Businesses to Last," focused on addressing key challenges facing family businesses, particularly in Africa.
Jayesh Shah, Group Managing Director of Sumaria Group in Tanzania, delivered a keynote address where he underscored several hurdles that family businesses face today, including the absence of formal structures, poor succession planning, and difficulties balancing family and business interests.
"Conflicts will always be part of families, but they tend to deepen in family businesses. Setting up a formal board of directors, with both family and non-family members, can lead to better decision-making, particularly during conflicts," Shah advised.
He further emphasized the need for clearly defined roles to ensure that family members in leadership are both qualified and accountable.
Emmanuel Katongole, Co-founder and Chairman of Quality Chemicals Limited, stressed the importance of integrity in laying a strong foundation for future generations.
"Maintaining accurate financial records is vital for both stakeholders and the government. Distinguishing between personal finances and business obligations like taxes is essential for smooth financial management," Katongole noted.
Katongole also highlighted the significance of choosing a banking partner that understands the unique needs of family businesses. "A supportive banking relationship can provide the resources and guidance necessary to navigate financial challenges effectively," he said.
I&M Bank Uganda's Executive Director and Chief Operations Officer, Sam Ntulume, echoed this sentiment, emphasizing the rewards of partnering with a financial service provider from the early stages of a business.
"Understanding when your business is ready to take financial risks, and gauging the size of those risks, is crucial," Ntulume explained.
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"At I&M Bank, we began as a family business, so we know the unique dynamics of family enterprises. We offer tailored financial solutions to help family businesses overcome challenges and seize opportunities."
CSL Sim Katende, a Partner at Katende, Ssempebwa & Company Advocates (KATS), focused on the importance of having constitutions for family businesses.
He noted that many business owners request templates for constitutions, but he advises them to create customised ones that reflect their values and goals.
"A well-drafted constitution provides clarity, structure, and helps prevent conflicts, ensuring that everyone respects the rules and objectives needed for growth," Katende said.
The conference attracted a diverse audience, including notable figures such as Owekitiibwa Robert Waggwa Nsibirwa, the Second Deputy Katikkiro and Minister of Finance of Buganda Kingdom, former Finance Minister Maria Kiwanuka, and former Uganda Investment Authority Executive Director Dr. Maggie Kigozi.
This event provided a platform for family businesses to learn best practices, build networks, and explore solutions to sustain their enterprises for future generations.
