This month, our Director for Middle East, Africa and India, Faizal Bhana, hosted and attended several critical private wealth and funds sector events for African financial services professionals.
Jointly hosted with CMS Kenya Daly Inamdar Advocates, the private wealth-focussed roundtable took place in Mombasa, Kenya, and was attended by top-tier family businesses and professional advisers. Discussions focussed on the challenges and opportunities for next generation family business owners, inspiring deep talks on responsible leadership.
The topic is pertinent to the region as family businesses in Africa contribute considerably to the continent’s economic prosperity; total individual wealth held in Africa is expected to reach US$3.1 trillion by 2027, attributed, in part, to the next generation of family business owners.
Faizal spoke about why family businesses should consider working with firms in Jersey that regularly work with regional clients on their succession planning and governance. Panellists included experts from CMS Kenya, Craft Silicon, EY and Innovus Risk & Advisory LLP.
At the East Africa Venture Capital Association (EAVCA) annual conference, this year celebrating its 10th anniversary, Faizal Bhana hosted a panel session on the future of the funds industry. Digitalisation, regulation and the changing dynamics of capital raising were topics discussed by a panel of experts from EY, CDH Kenya and Rwanda Finance.