The 7 Generations Institute (7GI) has launched a pan-African initiative in Lagos, aiming to mobilise private family wealth to fuel the continent’s development.
The event marked the kickoff of a 15-country tour designed to foster this goal through awareness campaigns, capacity building, and strategic policy guidance.
Held at the United Nations Development Programme (UNDP) innovation centre in Ikoyi, the programme was a collaborative effort with the UNDP regional bureau for Africa, the Africa Prosperity Summit, the African Philanthropy Forum, and Rockefeller Philanthropy Advisors.
It convened a powerful assembly of leading families, business executives, investment firms, philanthropic organisations, and policymakers to explore the transformative potential of the ‘true family office’ model.
Barry Johnson, the executive chairman of 7GI, explained that a ‘true family office’ is a holistic governance system that strengthens family relationships, values, decision-making, and prepares the next generation while guiding how wealth is managed.
He added that well-governed families can use their wealth to support businesses, reinforce national systems, and advance Africa’s development goals.
“A True Family Office is a governance system that strengthens the family’s relationships, values, decision-making, well-being, next-generation readiness, and the many forms of non-financial capital that ultimately determine how financial capital is created, preserved, and used,” he said.
“When families govern these domains well, their money becomes better governed. Well-governed capital then becomes catalytic, supporting entrepreneurs, strengthening national systems, and advancing the continent’s development priorities.”
7GI explained that well-governed families manage their wealth effectively, which allows capital to be used productively, responsibly, and locally, ultimately driving economic growth and resilience.
Participants also explored how African families play a key role in national development, entrepreneurship, innovation, and long-term economic stability, highlighting the connection between family governance and sustainable development.
On her part, Sarah Stephen, the executive director of 7GI, revealed the benefit of ‘true family office,’ noting that it helps families learn, connect, and understand the important role they play in driving change.
She added that while many wealthy families lose their wealth within three generations, African families can preserve and reinvest their wealth back into the continent, intentionally supporting African development and ambitions.
“We create environments that help families learn, connect, and appreciate the catalytic role they are needed to play,” she said.
“Most wealthy families worldwide lose their wealth within three generations. When African families build True Family Offices, they preserve their wealth and intentionally reinvest it back into the continent. Lagos showed how ready leaders are to design African solutions for African ambitions.”
Despite the clear benefits, speakers acknowledged significant hurdles to establishing family offices in Africa. These challenges include limited awareness of the concept, a shortage of expert guidance, unclear regulatory frameworks, and a historical trend of African wealth flowing to offshore financial centres.
The 7GI tour is specifically designed to address these issues. The initiative aims to help Africa retain its private wealth, support local entrepreneurs, and strengthen regional collaboration. A key objective is to set African-led governance standards that can attract global co-investment.
The tour will continue across the continent with upcoming stops in Cape Town, Kigali, Rabat, and Abidjan. To ensure lasting impact, 7GI also announced plans to develop a continental family office learning network, which will facilitate ongoing peer exchange and provide technical support to families on their governance journeys.
Copyright 2025 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Follow us on twitter @Thecablestyle