Family-owned enterprises form the backbone of Ghana’s economy, driving job creation, innovation, and community development. However, globally, 95 percent of family businesses do not survive beyond the third generation, often due to gaps in succession planning, weak governance systems, unmanaged growth, and unresolved family conflicts.
The workshop addressed key enablers of multi-generational resilience, including aligning family values with professional business systems; preparing next-generation leaders early and intentionally; establishing structured conflict-resolution mechanisms; and building governance frameworks that strengthen both the family and the enterprise.

Mr. Kyle Kelhofer, IFC Senior Country Manager for Ghana and Liberia, said family-owned businesses were critical to shaping legacies that endure across generations.
“Family-owned businesses are not just important to Ghana’s economy. They are critical to shaping legacies that endure across generations,” he said.
He noted that navigating generational transitions requires preparing the next generation to lead, supporting incumbents to gradually let go, and ensuring that succession happens smoothly and intentionally.

“This improves operations, preserves wealth, and even enhances access to finance,” he added.
Common themes discussed during the workshop included succession anxieties, maintaining entrepreneurial drive, establishing governance structures that preserve family harmony, and reconciling business needs with family expectations.

Mr. Kelhofer expressed confidence in Ghanaian family businesses to grow regionally and globally.
“Ghana has outstanding family enterprises that can become major regional players and cross-sector champions. They reach a point where they can either remain small or scale, creating opportunities for growth, investment, and legacy,” he said.
He noted that the workshop, the third in the ongoing series, reflected strong demand from Ghana’s business community.

Reaffirming IFC’s long-term commitment, 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.”
He added that IFC’s mission was to help these businesses achieve beyond what they currently imagine, potentially becoming leading local corporates and even global players.

Mr. Moez Miaoui, Lead Facilitator of the workshop, highlighted the universality of the challenges faced by family businesses.
“Whether you are working with a first- or fifth-generation business, the patterns are remarkably similar,” he said.
He noted that family governance is fundamental to sustaining enterprises that drive job creation across Europe, Africa, South Asia, and East Asia.

Mr. Miaoui emphasized that succession is a two-way process.
“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, and passion cannot be forced; it must be cultivated and transferred authentically,” he said.