53% of African family businesses plan steady growth, signaling stable investment terrain

For financial markets and institutional investors, the PwC report signals that African family enterprises are not only resilient but systematically planning for sustainable expansion—53% are targeting steady growth, and the cohort already outperformed the global growth rate by 9 points. This disciplined capital deployment and multi-generational horizon could translate into more predictable returns in an often opaque landscape.

Family businesses in Africa are proving to be not just resilient but uniquely high-performing, according to PwC’s 2025 Africa Family Business Survey. The data paints a striking picture: 66% of the 79 surveyed family-owned businesses across East, West, and Southern Africa achieved single- or double-digit sales growth over the past year, handily surpassing the global average of 57%. This 9-percentage-point gap, emerging from a continent often characterized by economic volatility and infrastructure challenges, signals that disciplined, purpose-driven approaches can yield outsized returns even in tough environments.

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The data paints a striking picture: 66% of the 79 surveyed family-owned businesses across East, West, and Southern Africa achieved single- or double-digit sales growth over the past year, handily surpassing the global average of 57%.

The survey arrives at a moment when African economies face a cocktail of pressures—currency instability, regulatory reforms, geopolitical tensions, and shifting stakeholder expectations—yet family enterprises have turned these headwinds into differentiators. Rather than retrenching, many are doubling down on technology and AI as growth accelerators. Esiri Agbeyi, Africa Family Business Leader at PwC Nigeria, emphasized that the foundation is solid: “Disciplined strategies and a clear focus on technology and AI show that the fundamentals are in place. The next step is to build on these strengths by scaling purpose, improving decision-making, and activating reputation and long-term capital as drivers of growth.” That outlook is reinforced by forward-looking data: 53% of respondents expect to pursue steady growth over the next two years, while another 27% plan even faster expansion. This cautious optimism—neither reckless nor defensive—maps to the unique constraints and opportunities across the continent’s major economic blocs.

Regional divergence emerged as a critical theme. In West Africa, business leaders prioritized fiscal stability, deeper regional integration, and transport infrastructure—reflecting the area’s reliance on cross-border trade and the impact of recent currency reforms. Southern African firms were grappling with persistent energy constraints and actively diversifying power sources, a direct business continuity imperative. East African businesses, meanwhile, continued to lead on digital transformation and innovation-led growth, leveraging the region’s reputation for tech adoption and mobile-money ecosystems. PwC’s analysis distills five success factors common among top performers: a clear sense of purpose, operational agility, long-term capital deployment, reputation management, and strategic tax planning. Notably, the report does not treat these as abstract ideals; they are measurable differentiators that correlate with revenue growth.