Kirumira

Succession planning is a crucial aspect of family businesses, yet many founders struggle to prepare their heirs for the responsibility of taking over the reins. In Uganda, the statistics are stark: 90% of family-owned businesses fail to survive the transition to the next generation, and even fewer make it to the third generation. However, the Kirumira family is bucking this trend. In a rare glimpse into the dynamics of a successful family business, Gideon Kirumira, son of tycoon Geofrey Kirumira, shares his experiences and insights on the importance of hard work, mentorship, and values in ensuring the continuation of generational…