What is FABASA?
FABASA, (Family Business Association of Southern Africa), is a voluntary business organisation that was established in 2009 to act as the official mouthpiece for family-owned business (FOBs) in Southern Africa as well as to promote the overall interests of this important sector. With some 80% of all businesses in South Africa being in family hands, FABASA is a first of its kind in Africa and will play a dynamic role in educating and streamlining the needs of FOBs on the sub-continent. The organisation’s establishment was made possible by long-term savings corporate Old Mutual, who is both founder sponsor as well as first corporate member of FABASA.
What are FABASA’s objectives?
FABASA will fill a much needed void in helping FOBs. Its mandate includes corporate governance and best practices, and assistance with succession planning, given that a staggering 70% of all first-generation family-owned businesses fail in their efforts to hand over to the second generation. FABASA will offer practical solutions to family businesses, while also highlighting effective strategies to manage their businesses towards profitability and prosperity.
Members and other visitors to the FABASA website will have ongoing access to best practices and the latest research and international trends affecting this sector. Training programmes such as workshops and conferences will be arranged if and where it is a viable option.
FABASA will create access to accredited family business consultants & other business experts.
How much does membership cost?
Since the original Association Incorporated under section 21 was discontinued members do not have to pay for membership. It is a voluntary association of people (businesses) who support the family owned business sector in South Africa.