Family-owned businesses across Africa are proving more resilient than their global counterparts, with 66% reporting sales growth over the past year despite inflationary pressures, tax challenges and economic uncertainty.

This is according to PricewaterhouseCoopers Africa Family Business Survey 2025, which gathered responses from 79 family businesses across East, West and Southern Africa.

The survey found that African family businesses outperformed the global average, where only 57% of respondents reported sales growth during the same period.

What the data is saying

According to the report, 53% of respondents expect to pursue steady growth over the next two years, while another 27% are targeting faster expansion, reflecting confidence in future opportunities despite a challenging operating environment.

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PwC noted that the strong performance comes at a time when African economies are grappling with multiple pressures, including geopolitical tensions, climate-related risks, currency volatility and rapid technological change.

  • “Family businesses in Africa have built a strong foundation for growth. Disciplined strategies and a clear focus on technology and AI show that the fundamentals are in place,” said Esiri Agbeyi, Africa Family Business Leader at PwC Nigeria.

The report also found that African family businesses remain committed to long-term value creation, with 82% prioritising the reinvestment of profits rather than pursuing aggressive expansion financed by external capital.

In West Africa, businesses are benefiting from reforms aimed at improving fiscal stability, regional integration and infrastructure development.

East African firms are leveraging digital transformation and innovation-driven ecosystems, while Southern African businesses continue to adapt to energy constraints through investments in more reliable power systems.

The survey identified agility, long-term capital allocation, reputation management, technology adoption and strategic tax planning as key factors driving performance among high-growth family businesses.

More insight

More than half of respondents described their businesses as agile or very agile, a figure that exceeds the global average. PwC said this adaptability is enabling firms to respond more effectively to changing market conditions and emerging opportunities.

  • Technology is also becoming a critical growth driver. Over 50% of respondents said technological advancement and artificial intelligence are among their top strategic priorities, reflecting growing efforts to improve operational efficiency and competitiveness.
  • However, the survey highlighted growing concerns around taxation. About 58% of respondents identified tax-related challenges as a major issue, significantly higher than the global average. According to PwC, increasingly complex tax environments in countries such as Nigeria, South Africa and Kenya are making tax strategy a central component of business planning.

Inflation and supply chain disruptions remain major concerns, with nearly two-thirds of respondents reporting a significant impact from both challenges over the past year.

What you should know

Family businesses account for a significant share of private sector activity across Africa and are often among the continent’s largest employers.African family businessesowned by high networth individuals are spread across the globe.

  • In volatile markets, family offices provide insulation, allowing capital to be deployed globally, hedged against currency risks, and invested with a long-term horizon.
  • Nairametrics reported that as of 2023 Africa’s population of high-net-worth individuals (HNWIs) could reach an estimated 195,000 by 2032.
  • This marked a 42% increase from the 138,000 HNWIs recorded in 2022, as outlined in the Africa Wealth Report 2023. Mauritius is expected to be a standout performer in this growth, with a forecasted 75% increase in its HNWI population over the next decade.

Nigeria has a total of 9.800 millionaires and approximately 4 billionaires such as Aliko Dangote, Abdulsamad Rabiu, Mike Adenuga, and Femi Otedola.