Key Takeaways from the Africa Roundtable in London

The event offered attendees an opportunity to exchange insights on the evolving private client landscape across the continent and discuss Jersey’s role in supporting African families with international structuring, succession planning and governance.

South Africa remains one of the continent’s most developed private wealth markets. With a well-established financial services infrastructure, a large community of STEP-qualified professionals and high levels of financial literacy, the country continues to be a key gateway jurisdiction for African private capital.

South Africa’s G20 presidency has brought important issues for Africa, such as climate change, energy security, and investment in infrastructure, to the forefront of international policy dialogue. Despite the country’s current political environment, the presidency has brought a renewed sense of optimism and opportunity driven by positive shifts in regional governance and a greater focus on accountability.

Another theme highlighted during the roundtable was the growing need for education. While many South African clients are familiar with local trusts, there is growing interest in alternative structures that offer greater visibility and involvement. Foundations and private trust companies (PTCs) are becoming more widely considered, particularly where families wish to retain a degree of control. Jersey’s ability to support this through flexible structuring, without compromising regulatory integrity, was noted as a strength.

Families with substantial entrepreneurial success, often from previously underrepresented groups, are also beginning to explore cross-border structuring options, often for the first time. For these families, education around jurisdictional options, tax complexities and succession planning remain essential.

The professionalisation of family businesses is also gathering pace in South Africa. Driven by private equity investment, bank financing requirements and next generation leadership, families are increasingly adopting corporate-style governance frameworks. Events such as the Southern Africa Family Business Legacy Forum, hosted earlier this year, were noted among participants as supporting families in normalising conversations around succession planning in a safe space.

Yet challenges persist, particularly around what is described as a “succession planning crisis”, in parts of the region. As family businesses in South Africa become multi-generational, the next generation is often uninterested in the family business or too young to take over. This generational gap, compounded by cultural sensitivities around discussing mortality, has created an urgent need for experienced advisers to support families with sustainable legacy strategies.

Participants also reflected on the importance of identifying natural succession ‘trigger points’, such as marriage, divorce or overseas education. These moments often create opportunities for planning conversations, where the substantial experience of the experts found in Jersey in navigating these dynamics is valued.

In East Africa, Kenya’s business environment remains resilient, and Nairobi is expanding its influence as a financial centre.

Kenya was described as a “pace-setter” in East Africa, particularly in the areas of policy development, private client services and client sophistication. The country is increasingly seen as a launchpad for regional expansion, with a new generation of business owners actively seeking international partnerships, governance frameworks and tax-efficient solutions to support their ambitions.

A number of trends were also highlighted during the discussion, reflecting both the growing complexity and the maturing needs of East African families and businesses.

The sophistication of family business 

Families in Kenya are becoming more internationally connected and more strategic in how they approach succession, control and diversification. Clients are increasingly engaging with fiduciary providers and legal advisers who can deliver coordinated, multi-jurisdictional solutions.

While awareness of wealth structuring options is growing, participants agreed that more education is needed, particularly around the nuances of tax reporting, regulatory compliance and succession planning.

Governance and compliance considerations  

Global transparency frameworks, including the Common Reporting Standard (CRS), are increasingly influencing how families in East Africa approach wealth structuring and cross-border planning. Evolving requirements around effective management, control and tax reporting combined with growing cooperation between authorities such as the Kenya Revenue Authority are contributing to greater focus on governance and substance.

Growth and regional scaling  

Kenya’s corporate sector is becoming more sophisticated, with companies actively exploring cross-border opportunities under initiatives such as the African Continental Free Trade Area (AfCFTA). This is creating a growing demand for international holding companies and joint venture vehicles that allow businesses to scale across borders. Jersey company laws were highlighted as enablers of this trend owing to their emphasis on substance and adherence to internationally recognised governance standards.

Participants also noted the appeal of Jersey Private Funds (JPFs) for corporate families looking to pool capital, co-invest or structure exit strategies, particularly in sectors such as real estate, infrastructure and agriculture.

Funds, tokenisation and innovation 

The conversation also explored the growing appetite for fund structures and digital innovation in East Africa. Participants noted a growing interest in tokenised investments, especially as younger business leaders consider future exit strategies and want to retain flexibility while diversifying their asset base.

Shari’a-compliant finance 

Shari’a-compliant investment solutions, including Sukuk and Islamic finance structures, are gaining traction in some parts of East Africa. The Nairobi Stock Exchange has reported an increased Sukuk issuance and advisers anticipate this to continue to be a growing interest for family offices and businesses seeking to align investment portfolios with faith-based principles.

Jersey’s proven track record in supporting Islamic finance through flexible structures such as trusts, partnerships and corporate vehicles was highlighted as an advantage for families looking to bridge Shari’a-compliance with international standards.

Jurisdictional diversification  

Many East African families are establishing a presence in the Middle East, particularly in Dubai, highlighting connectivity, access to experienced financial industry professionals and favourable lifestyle conditions, as some of the reasons for this trend. However, participants shared that Jersey remains a jurisdiction of choice for many families, due to its political stability, tax neutrality and compliance with the highest international regulatory standards.

A triangulation of operational presence in the Gulf, business roots in Kenya and legal structuring in Jersey is becoming increasingly common. Participants highlighted the value of Jersey firms working closely with their counterparts in East Africa and the Middle East to deliver fully integrated, multi-jurisdictional advice.

As African families and their businesses navigate an increasingly complex landscape, Jersey continues to be recognised as a trusted partner, helping them to navigate succession, structuring and global diversification

As cross-border collaboration becomes essential, Jersey’s ability to provide stability, legal certainty and innovation and will be key in the future.

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