COVID-19: Implications for African Family Businesses

On this episode of The Family Business Voice we continue our coverage on the COVID-19 crisis with perspectives from Africa’s family business community. Two of AFF’s founding members, Nike Anani and Tsitsi Mutendi, speak with Ramia from Lagos, Nigeria and Harare, Zimbabwe respectively.

Nike Anani is a speaker, author and next-gen coach and mentor as well as a next-gen family member executive in her parents’ businesses and family office. Since the start of this outbreak, her mission to protect sustainable multigenerational family businesses has gained an immediacy that seems unthinkable only a few weeks ago.

Aside from her work with the AFF, Tsitsi Mutendi is an entrepreneur, Montessori Educationalist and Family Business Expert with Nhaka Legacy Planning. She is on the ground working with Family Businesses in her community across Africa as they grapple with the unprecedented disruption felt globally.

– COVID-19 has revealed a false sense of security; the world’s systems are actually quite vulnerable.

– Family businesses, however, are resilient, and their role in this crisis is critical. If family businesses can stay safe people will also stay safe.

– Preparation is key. Family businesses who were prepared and had a crisis management plan in place are faring better than those without – a valuable lesson for next time.

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Also, read the full article here.