Walking in the Path of Socio-cultural Traditions: Family Enterprise and its Governance in Ghana
Keywords:
Family Business Governance, Socio-cultural Traditions, Ghana, Ancestral Values, Succession Planning, Structural Hybridization, Socio-Emotional WealthAbstract
This qualitative multiple-case study examined how socio-cultural traditions influence governance practices, family identity and sustainability within Ghanaian family enterprises and their implications for culturally rooted governance. Semi-structured interviews were conducted with 15 participants drawn from 12 family enterprises operating across diverse sectors in Ghana. Data were analysed using reflexive thematic analysis, generating nine themes organised around three research objectives. The findings show that inherited family values, extended-family and community expectations, family reputation, spirituality and traditional wisdom provide important reference points for governance. However, these socio-cultural influences generated both opportunities and tensions, particularly where family obligations conflicted with professional management requirements. Participants also described hybrid governance arrangements that combined formal structures, including written policies, boards and family constitutions, with culturally embedded practices such as family elder consultation and intergenerational values transmission. Succession emerged as involving not only leadership transition but also the transfer of family identity, business knowledge and cultural values. Drawing on Socioemotional Wealth, Stewardship Theory and the Three-Circle Model, the study contributes context-specific evidence showing that governance within the participating enterprises was neither exclusively traditional nor entirely formalised. The study proposes an adaptive, culturally rooted approach that integrates culturally legitimate values with professional governance mechanisms to support accountability, family continuity and enterprise sustainability.
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Copyright (c) 2026 Richard Afedzie, Alexander Amo Baffour, Richard Brace, Akosua Serwaa Boadu Ayeboafoh (Author)
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