Securing Legacies: Navigating Transition, Trust & Transformation in Family Businesses

On May 15, 2025, Strathmore University Business School (SBS) hosted the Annual Family Business Day and graduation ceremony for the Enterprise Development Programme (EDP) and the Family Business Executive Programme. Held at the SBS TransCentury Auditorium, the event gathered family business owners, SME leaders, and thought leaders under the theme “Securing Legacies: Navigating Transition, Trust & Transformation in Family Businesses.”

This event was more than a ceremony—it was a forum for dialogue, mentorship, and inspiration. It highlighted the real and urgent challenges faced by family businesses and SMEs in Africa, especially in governance, succession, and sustainability.

Simon Kihumba, Founder and Chairman of Nesim Limited, delivered a compelling keynote address urging family enterprises to design governance systems that align with their values and vision. He emphasized that “legacy is built, not inherited,” emphasizing the importance of values, systems, and trust.

The Inspiration Note by Devan Bimal Shah, Chief Marketing Officer at Broadway Group of Companies, provided personal reflections on succession and transitioning leadership. His words resonated deeply: “Don’t try to be a hero in the family business—ease in, keep learning, and put systems in place so the business runs without you.”

The ensuing panel discussion, moderated by Raymond Mutura, Academic Director of the Family Business Executive Programme, brought together Simon Kihumba, Devan Shah, and Susan Ndung’u from NCBA Bank. They tackled the critical distinctions between family and business roles. One insight stood out: “In business, you’re not ‘dad’ or ‘daughter’—you are the leader, the strategist, the partner.”

Other key themes from the day included:

• Governance is non-negotiable. Family businesses must move from informal, personality-driven systems to institutional structures that can survive transitions.
• Rethinking inheritance. Ownership does not automatically translate to competence. Training, mentorship, and clarity matter more than titles.
• Generational continuity. A family business is unsuccessful unless it can thrive through multiple generations—impact matters more than longevity.
• Financial discipline and community building. The cycle of earn-and-spend must give way to save-and-invest, especially with younger generations.

The day’s highlight was the graduation of the 2024 cohort of the Enterprise Development Programme and the Family Business Executive Programme. This cohort included a rich mix of entrepreneurs from different sectors, from agribusiness, logistics, manufacturing, retail, and services. Among the graduating participants were 38 NCBA SME customers from the Enterprise Development Programme.

Testimonies from graduates such as George Kamau and Esther Mwende, Samuel Mutonga (Samuels Music Company), and Newton Gichuru (Hush Solutions) added depth to the day and showcased how the programme has shifted mindsets and business models.

The Family Business Executive Programme is designed to help family-owned enterprises navigate the complexities of generational transition, governance, and strategic growth. Tailored to address the unique dynamics of family businesses, it focuses on building robust governance structures, developing effective succession plans, and aligning family values with long-term business goals. Through interactive learning, case studies, and peer exchange, participants gain the tools and insights needed to strengthen relationships, enhance leadership, and secure the legacy of their enterprises across generations. The July 2025 intake is ongoing.

Learn more about this Programme here.

The Enterprise Development Programme (EDP) is a 16-week executive course designed to empower small and medium-sized enterprise (SME) owners with the practical tools and strategic insights needed to grow and sustain their businesses. Focused on real-world application, the programme addresses key areas such as opportunity recognition, business model innovation, financial management, and scaling strategies. Through interactive sessions and peer learning, participants sharpen their leadership and decision-making skills while developing actionable plans for long-term business success.

The EDP reflects Strathmore’s commitment to nurturing entrepreneurial excellence and driving impactful growth across Kenya’s SME sector. The June 2025 intake is ongoing. Learn more about this Programme here.

Article by Miriam Wafula and Juliet Hinga