| Abstract [eng] |
Family businesses are critical to Africa’s economic growth, yet their survival across generations remains uncertain due to succession challenges and weak sustainability practices. This study investigates the key determinants of continuity in family-owned enterprises, with a focus on Nigeria and South Africa. Using a quantitative approach, data were collected from 30 founders, successors, and non-family executives through structured surveys. The responses were analyzed in Excel and EViews using regression models to evaluate the effects of succession planning, next-generation interest, family conflict, and environmental, social, and governance (ESG) practices on sustainability. Findings indicate that succession planning significantly influences long-term business survival, while next-generation interests and family conflict show limited impact. Importantly, ESG responsibility emerged as the strongest predictor of sustainability, emphasizing the need for African family firms to adopt responsible governance and social practices. The study contributes to family business research in emerging markets and offers practical tips for owners and policymakers aiming to strengthen intergenerational continuity. |
