Continued from Episode 3… The following weekend, the family gathered once again, this time for a more formal meeting with Lucas. The discussion about family governance continued, and this time they were digging deeper into the details. Sophia, always practical, asked, “Isn’t family governance mainly about money, though?” Justina shook her head. “No, it’s much…
Continued from Episode 2… It was a warm evening at the Atunwa residence, and the family gathered for a casual dinner. Bianca, Donald’s wife and CEO of Donanca Construction, had just returned from a business trip and joined them at the table. Tonight, they welcomed a new guest: Lucas, a senior family advisor from the…
Continued from Episode 1... After Justina’s explanation, Henry asked, “Who exactly should be involved in family governance discussions? Just us?” Before she could respond, Frank, Donald’s second son and the CEO of Frankish, Nigeria’s fastest-growing fast-food chain, jumped in. “I run a company, and we involve key players in big decisions. Shouldn’t a family be…
Donald Atunwa's journey is remarkable—not just for its success but for how he is planning the future. Like many other billionaires, Donald’s story began humbly. Born into a family of cocoa farmers, his father insisted on giving him a formal education. As fate would have it, Donald entered the oil industry during its boom years.…
Think of a hardworking founder of a highly successful enterprise. With significant labour, sacrifice, and commitment, they have achieved significant success. As they advance in years, their deepest desire is for the product of their labour to be transferred seamlessly to the next generations. They want their wealth to not only provide their descendants with…
Success in generational wealth transfer is a challenge for many families. Statistics show that 7 out of 10 families will lose their wealth by the second generation, with 9 out of 10 losing it by the third. This staggering number has a significant impact on the well-being of existing and unborn family members, as well…
What is Succession Planning? Succession planning in the context of family wealth management involves the process of preparing for the seamless transfer of leadership, management, and ownership of a family business or wealth to the next generation or chosen successors. This strategic undertaking is key in ensuring the continuity and long-term sustainability of the family's…
Family businesses are unique entities that blend personal relationships with the challenges of running a successful enterprise. With ownership, management, and control predominantly held by family members, they play a crucial role in generating employment and driving economic growth. Studies reveal that family businesses contribute significantly to global GDP and job creation. Their resilience during…
Accomplished patriarchs and matriarchs carry the battle scars of their entrepreneurial journey, lessons unique to their family's story. From failed attempts to multiple rejections, doggedness in the face of hopelessness, bad decisions with tough consequences, and the ultimate joy of breaking through. The lessons are similar on the wealth journey, yet uniquely theirs, forming the…