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Family business need professional managers, firms told

From left to right: KPMG CEO Josphat Mwaura, Businessman Manu Chandaria, Professional Clean Care Limited founder and the managing director Betty Wanyoike, Nation Media Group CEO Joe Muganda and Diamond Trust Bank CEO Nasim Devji during the Kenya Top 100 mid-sized companies' survey conference at the October 6, 2016. PHOTO | DIANA NGILA

Family owned businesses must integrate professional management in their if they are to experience faster growth and mitigate risks associated with demise of vision bearers.

Addressing Business Daily-KPMG sponsored TOP100 Midsized Companies forum, Sanlam Kenya Group Chief Executive Mugo Kibati said companies planning expansion beyond their vision bearers must institutionalise management where all processes are managed via market research and not individual instincts.

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