African family businesses have defied economic headwinds to outperform their global peers, according to a new report from professional services firm PwC.
The PwC 2025 Africa Family Business Survey reveals that family-owned businesses in Africa have achieved stronger growth rates than their counterparts worldwide, despite being buffeted by economic uncertainty.
African Economies Show Resilience
The survey, which polled over 1,200 family business leaders across the continent, found that African economies are proving surprisingly resilient in the face of global economic headwinds.
Tunde Hassan-Odukale, the leader of PwC’s African family business services, said that African family businesses are adapting to changing market conditions and taking advantage of new opportunities.
“Family businesses in Africa are demonstrating great agility and resilience in the face of economic uncertainty,” he said. “They are leveraging their deep roots in local markets and their unique family-focused approach to outperform their global peers.”
Strong Growth Across Africa
The survey found that family businesses in several African countries recorded significant growth rates, with Nigeria, Egypt, and South Africa emerging as key hotspots.
According to the report, the top-performing family businesses in Africa are those that have diversified their operations, invested in digital technologies, and adopted a flexible approach to management.
“These businesses are not only growing faster but are also more likely to be family-owned and operated,” said Hassan-Odukale.
Africa’s Family Businesses: A Bright Spot?
The PwC report suggests that Africa’s family businesses could be a source of growth and stability in an uncertain economic climate.
What this means for you: African family businesses are punching above their weight in a global economy marked by uncertainty and stagnation. While there are challenges to be addressed, these businesses are demonstrating the adaptability and resilience that could help them thrive in a rapidly changing world.
PwC’s survey highlights the potential of family businesses in Africa to drive economic growth, create jobs, and build stronger, more resilient communities.
