The Family Business Association of Southern Africa (FABASA) has been established to assist family-owned businesses in Southern Africa to apply best practices to deal with the typical challenges to family-owned-businesses, such as professional succession planning and sound governance structures as well as to promote the overall interests of this economic sector.
First of its kind on African soil, FABASA plays a crucial role in educating and streamlining the needs of this significant contributor to economies on the sub-continent taking into consideration that some 80% of all businesses in South Africa belong to families.
Founding Sponsor of FABASA, Old Mutual, believes that the organisation fills a much-needed void in empowering family-owned business.
Amongst other issues, FABASA’s mandate includes assisting family-owned business with corporate governance and best practices, as well as guidance with succession planning, the importance of which cannot be over estimated, given that a staggering 70% of all first generation family-owned businesses fail in their efforts to hand over to the second generation.
From a holistic perspective, FABASA offers practical solutions to family businesses, while also highlighting effective strategies to manage their businesses towards profitability and prosperity.
Members have ongoing access to the latest best practices to deal with challenges. Training programmes such as workshops and relevant information on its website, form the backbone of FABASA’s empowerment drive.
Should you wish to become a member of FABASA, please send an email to firstname.lastname@example.org and the relevant membership documentation will be forwarded to you.