East African founders urged to build businesses that outlive them

Business leaders and entrepreneurs from across East Africa gathered in Nairobi for the Building Beyond You Forum, where speakers urged founders to build businesses that can outlive them through strong governance, structured systems, and succession planning.

The forum challenged entrepreneurs to look beyond short-term profits and focus on creating sustainable institutions.

Speakers encouraged founders to act on their ideas early while putting in place structures that support long-term growth.

Centum Investment Company Group CEO Dr James Mworia, in his keynote address, reflected on his journey from a filing intern to chief executive, reiterating Centum's growth from a Sh6 billion company into one of East Africa's leading investment firms.

"When I became CEO of Centum in December 2008, we were a small team of about 10 people," Mworia said. "My ambition was never simply to build a successful investment company. It was to build an institution that would continue creating value long after any individual leader had moved on."

Nigerian entrepreneur Tara Fela-Durotoye shared how she built House of Tara International from her living room at the age of 20 into a pan-African beauty brand that is now studied at Stanford Graduate School of Business. She said stepping down from executive leadership after 25 years was a deliberate move to secure the company's future.

"Legacy is not makeup for me. Legacy is not beauty for me," Fela-Durotoye said. "Legacy is the impact of the lives that I developed, that I built in the institution."

Building Beyond You Forum convener and CN Communications CEO Cynthia Nyamai said many founders in the region are grappling with how to build businesses that stand the test of time.

"East Africa is building at extraordinary speed, and the question every founder here is asking is how to build something that lasts," Nyamai said.

The discussion comes at a time when many businesses across East Africa are struggling to survive beyond their early years.

Small and medium-sized enterprises (SMEs) remain the backbone of the regional economy, accounting for more than 60 per cent of employment and about 40 per cent of GDP.

Despite their economic contribution, many SMEs fail to achieve long-term sustainability.

In Kenya, nearly 70 per cent are estimated to close within their first three to five years, largely due to weak corporate governance, lack of formal business structures, and poor succession planning.