African family businesses beat global peers with 66% sales growth
PricewaterhouseCoopers Africa Family Business Survey 2025 found that 66% of 79 family businesses across East, West and Southern Africa reported sales growth over the past year, beating the global average of 57%. The survey, which also gathered insights from Nigerian firms, shows 53% aim for steady growth and 27% target faster expansion over the next two years, despite inflation, tax pressures and economic uncertainty.
For Nigerian family businesses, this matters because it proves resilience is possible locally. The data highlights that agility, long‑term capital allocation, reputation management, technology adoption and strategic tax planning drive high performance. Over half of respondents said tech and AI are top priorities, while 58% flagged tax‑related challenges as a major issue—higher than the global average.
In West Africa, firms benefit from reforms aimed at fiscal stability, regional integration and infrastructure development. Nigerian businesses should note the growing electricity supply risks linked to El Niño and the recent N3.64 trillion equity market loss led by BUA Cement, Dangote Cement and Geregu, which underline the need for diversified, long‑term strategies.
What should you know or do? Consider investing in technology and AI to improve efficiency, prioritize profit reinvestment over aggressive external financing, and develop a clear tax strategy to navigate complex environments. Stay informed about regional reforms that could ease operating costs, and monitor power sector developments that affect operations.