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According to research, 70% of family businesses will have lost their wealth by the second generation, while 90% will have lost it by the third generation.
East Africa family businesses are more optimistic in 2021, with 60% of them expecting to see growth, and very positive from 2022, as 91% expect` growth. The key priorities facing East African family businesses over the next two years are expanding into new markets & client segments, increased use of new technologies, introducing new products & services and rethinking their business models.