ISSUE 72 / 2018


GET GROWING


STOP TRYING TO BEAT THE COMPETITION, TIME FOR A “BLUE OCEAN” STRATEGY?


VALUES AT A PREMIUM


GHAZI ABU NAHL ON INSURING THE FUTURE


2050 FB FUTURISTS’ VIEW


ON FAMILY BUSINESS


TITAN TANZANIA’S


Mohammed Dewji on building East Africa’s billion dollar family business


Editor Nicholas Moody Deputy Editor James Beech


Senior Writer Alexandra Newlove


Art Director Elisa Barbata


Contributors Paul Ashton Daniel Bardsley Diana Hamade Jason Hobday Sharon Lim


Scott McCulloch


Mfonobong Nsehe Richard Steele


Executive Director, Sales Kevin Grant


T: +44 (0)20 3763 2804


Sales Team Pierre Aghabala Owen Hart Mishal Karia


Laurence Mackintosh Andrew Tappin


Chief Executive


Dominic Samuelson Published by


Campden Wealth Ltd 30 Cannon Street


London EC4M 6XH, UK T: +44 (0)20 3763 2800 F: +44 (0)20 3763 2801 E: fb@campdenwealth.com


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Copyright © Campden Wealth Ltd 2018 The contents of this publication are protected by copyright. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without prior written permission of Campden Wealth Limited. The views expressed in this publication are not necessarily those of the Publisher or any of its employees or agents. While the aforementioned parties have taken every care with regard to the accuracy of all editorial and advertisement material, they cannot be held responsible for any errors or omissions contained therein.


W ISSUE 72 | 2018


estern Europe and North America may be the traditional heartlands of multigenerational family enterprises, but it is in developing markets where rapid economic growth is creating the family businesses of tomorrow. Among them, Africa has six of the world’s 10


fastest-growing economies in 2018, according to the World Bank. This is no surprise to Mohammed “Mo” Dewji who, as a third-generation entrepreneur has lofty ambitions to grow his soaps-to-soft drinks Tanzanian conglomerate, MeTL Group, into a $5 billion enterprise. “We want to be the people’s brand, catering to the everyday needs of consumers, while building one of the most successful businesses in this part of the world,” says Dewji on page 14. It is this focus on growth and ambition that makes Dewji’s story perfect for this edition, as we contemplate how to help family businesses grow, evolve and innovate—whether through fi nancial, intellectual or social capital. Another inspirational story of ambition comes from Ghazi Abu Nahl, which begins on page 26 with a wonderful family photo. He tells Alexandra Newlove about dropping out of university in Cairo in 1960 to help his family, heading to Qatar, and building Nest Investments, which today is spread across six sectors and 23 countries. Abu Nahl was one of the pioneers of the insurance industry in Qatar, an example of a “blue ocean” strategy, where businesses target new markets devoid of competition. How does this apply to family businesses? Turn to page 20 to hear Scott McCulloch share how some families


have used the strategy, before next-generation innovators Geordie Willis and Ethan Koh discuss applying creative fl air to generations-old businesses from 320-year-old Berry Bros & Rudd to Koh’s own luxury brand Ethan K from page 33. Cyber-attacks are ballooning in number and spread, and in the fi rst of our three research pieces from page 44, we look at what to do when hackers strike, before examining the increasingly different ways families are funding their growth plans. James Beech speaks with futurologists who speculate on what family businesses might look like in 2050, before our fi nal Legacy section contemplates philanthropy’s missed opportunity, and why the environment remains so unpopular with donors.


Nicholas Moody Editor nicholasmoody@campdenwealth.com


CAMPDENFB.COM 1 GET-UP AND GROW


WE CONTEMPLATE HOW TO HELP FAMILY BUSINESSES GROW, EVOLVE AND INNOVATE— WHETHER THROUGH FINANCIAL, INTELLECTUAL OR SOCIAL CAPITAL


FROM THE EDI TOR


CAMPDENFB.COM ISSUE 72 / 2018


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