I&M Burbidge Capital, in collaboration with I&M Bank Uganda, International Finance Corporation (IFC), PKF East Africa and S&L Advocates, organised a groundbreaking symposium aimed at highlighting the importance of robust corporate governance policies and effective succession planning strategies for businesses. The event which was held at Golden Tulip Hotel, featured compelling case studies from I&M Group Plc, illustrating their experiences in developing corporate governance frameworks and implementing successful succession plans. At the symposium, different speakers emphasized how businesses can benefit immensely, from comprehensive governance policies and well-designed succession plans. By providing a comprehensive initiation guide, I&M Burbidge Capital aims to…
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Family business owners have a keen interest in sustaining the business as a family asset and as a legacy, according to PwC’s 2020 East Africa Family Business Survey. Estate planning is an important component for family business owners and their families to consider since it speaks directly to how certain assets will be preserved, managed or distributed. As part of an overall succession plan, estate planning clarifies how these assets will be passed on to the next generation or otherwise distributed. For their East Africa Family Business Survey Report 2021, PwC, spoke to Sim Katende, an Advocate of the High…
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(This story is an adaptation from a conversation Petua Kateeba and Joseline Kateeba had with Akaego Okoye, for her African Business Stories Podcast) At least 70% of all small businesses that start in Uganda are said to fail in the next 3 to 5 years. There is therefore no prize for guessing that there are not many businesses or playbooks to read from when it comes to managing intergenerational succession in family-owned businesses. As such for Petua Kateeba, the matriarchal head of Crest Foam Limited, a family-owned manufacturer of mattresses in Uganda, there was no rule book to read from…
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Rajiv Ruparelia, the Ruparelia Group Managing Director and heir apparent to the Ruparelia Group empire of over 28 businesses, turned 30 years. At 30 years, he is probably the youngest CEO of a business empire that is now in excess of USD 1 billion (UGX3.7 trillion). In this exclusive, candid interview, billionaire Dr Sudhir Ruparelia, the group’s founder and Chairman, spoke to CEO EA Magazine’s Executive Editor, Muhereza Kyamutetera about his slow but sure road to retirement and why he chose Rajiv to take over from him. Dr Sudhir, speaking from a skiing resort in Aspen, Colorado, in the United States of America, where the family is on a skiing holiday to celebrate Rajiv’s birthday, also gives tips on how to manage intergenerational succession in family businesses.
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