Globally, family businesses are navigating a period of transition S TANBIC Bank Kenya has reinforced its commitment to supporting family-owned businesses through an advisory-led proposition focused on governance, succession planning, working capital, growth capital, wealth continuity and cross-border expansion.
T his, as Family-owned businesses remain a critical part of Kenya’s enterprise landscape, anchoring employment, entrepreneurship, trade, innovation and intergenerational wealth creation. Their role is reflected in Kenya’s broader enterprise economy, where Micro, Small and Medium Enterprises employ more than 15 million people and contribute about 30 percent to national value added, according to the Kenya Bankers Association and JICA MSME Survey Report.
Globally, family businesses are navigating a period of transition. PwC’s 11th Global Family Business Survey, which covered 2,043 family business leaders across 82 countries, found that 43 per cent of family businesses reported double-digit sales growth in the previous financial year, up from 21 per cent in 2021.
The survey also highlighted growing pressure on family businesses to strengthen trust, purpose, governance and long-term sustainability. Speaking during a Stanbic Bank Kenya’s Family-Owned Business Executive forum in Nairobi, East Africa regional head of business and commercial banking, Florence Wanja, said the evolving needs of family-owned businesses require financial partnerships that go beyond conventional banking.
“ For family-owned businesses, it is never just business. It is livelihood, identity, reputation and continuity. These businesses are legacy institutions, and their next phase of growth requires trusted partners who understand both the enterprise and the family behind it,” she noted.
Stanbic Bank Kenya’s Family-Owned Business proposition is anchored on practical support across governance, succession planning, working capital, growth capital, wealth continuity and long-term legacy structuring. The bank said this approach recognises that decisions in family-owned businesses often extend beyond the balance sheet, touching on family relationships, ownership structures, employees, reputation and future generations.
“ Our role is not to start with a product. Our role is to start with the family’s ambition, the business’ growth path and the legacy that needs to be protected. Stanbic is the bridge between family and enterprise, and between local success and global opportunity,” said Wanja.