Forbes.com has produced a list of 10 successful African family businesses.
According to Forbes, “Family businesses control a significant portion of Africa’s economy. While family businesses are quite common across the continent, only a handful of them enjoy longevity. The survival rate of most African family businesses beyond the founder’s generation is extremely low.”
According to Forbes, the companies listed have annual revenues of $50 million or more with share capital controlled by the family members is in at least its second generation and the family controls at least 30% of the company’s equity voting rights.
Nigeria’s Dantata and Ibru families are among the 10 businesses that make the list. Read up the full article here