Dennis Oteng, CEO of BirchKED Holdings, is helping family businesses and young entrepreneurs in Africa succeed for generations. A visionary, innovative, and wise leader, he focuses on creating sustainable plans and strategies that grow businesses and protect their future.
Prior to BirchKED, Dennis was involved in a family business that belonged to his aunt. His contributions to the business ranged from improving processes and bringing in innovation to crafting customer service initiatives and establishing structures for business sustainability. For him, this experience served as a pilot project, which encouraged him to look at the wider African context and ask himself: “what more can I do?” He is now shaping a new narrative for African family businesses, focused on sustainability and generational success.
Dennis is also the host of the Africa Family Business Summit (AFBS), a premier event that unites business owners, the next generation of leaders, and investors to share insights, collaborate, and drive the future of family businesses in Africa.
Inspiration Behind Founding BirchKED Holdings
BirchKED Holdings, a proprietary investment firm, is committed to delivering disruptive solutions in the development of Africa. With investments across multiple portfolios, including real estate, food commodities and distribution, and transport and logistics, it has positioned itself as an active player, supporting families and their businesses.
Shirtsleeves to shirtsleeves” is a common adage that describes how family wealth built by one generation often dissipates by the third. Dennis notes that generally, on average, 30% of family-owned businesses survive from the first to the second generation; this number drops to 13% by the third generation, and only 3% remain by the fourth. However, in the case of Africa, according to a PwC report, only 2% of family businesses make it from the first generation to the second generation. This highlights a serious weakness in succession planning and sustainability in African businesses. In such a scenario, Dennis says that it is not enough to advise or consult.
So, he decided to be a player by actively investing and speaking the language of business people. Thus, BirchKED Holdings came into existence to change the narrative that only 2% of family businesses survive after the first generation in Africa. According to Dennis, to ensure business sustainability, they thought of supporting family businesses and young entrepreneurs so that they can carry their legacy from their parents and grandparents to the next generation.
Three Major Challenges
Market diversity, varying regulations, and finding the right talent are the three major challenges that Dennis and his team are trying to navigate in order to impact African economy. Market diversity poses a major challenge for them. Dennis explains that Ghana is different from Nigeria, even though English is spoken in both countries. Ghana is also surrounded by Francophone countries, where the culture is quite different. Likewise, East Africa and South Africa have their own distinctive cultures. This makes African market quite diverse, because of which, businesses cannot enter any country with preconceived ideas. Dennis says that they have to approach every market with a clean slate, as they cannot rely on what they already know. It is always a fresh start for them. That can be challenging as one has to start from zero, says Dennis.
The other major challenge he talks about is the varying regulatory landscape. The laws are not the same across countries in Africa. For example, Mauritian regulations differ from those in Ghana. Likewise, the laws in Kenya are different, and so are those in Nigeria.
And talent acquisition is also proving to be a big challenge for Dennis and his team. According to him, it is tough to get the right people for the ventures they launch and the businesses they support.
Criteria for Selecting Family Businesses
Dennis and his team use the Africa Family Business Summit as part of their selection process. According to him, before accepting someone to participate in this summit, they first confirm that the person comes from a family business.
“We focus on family businesses because we believe they are built on values,” Dennis says. “Also, the next generation in family businesses already has a blueprint.” He explains that they have seen their father, mother, uncle, and aunt run the business while growing up. So, according to him, it is easier for such people to succeed than someone starting with no experience at all.
“Once we ensure participants have come from family businesses, we align with their family values,” Dennis says. He does not consider this a bias. For him, it is about longevity, as family businesses are built with long-term intentions in mind.
After selection, Dennis and his team make sure that participants have already achieved a certain level of performance. They should not be fresh out of school. At the same time, they are careful about managing risks. These are some of the steps they undertake when working with family businesses, says Dennis.
Additionally, company size is also an important criterion. Dennis says that they do not accept businesses with fewer than 10 employees. The staff strength should be 10 or above, because they believe that by that stage, businesses should already have built beyond the initial level. And, in terms of revenue, the business should generate over $1 million in annual revenue before Dennis and his team can consider investing.
Dealing with the Older Generation and Next Generation’s Conflict
There is often conflict between the next generation and the older generation in family businesses. Dennis says that the custodians of tradition are usually the founders or older members of the family, while the initiators of innovation are most likely the next generation. Therefore, it is essential to have cross-generational discussions. Dennis explains that they bring both generations to the table for discussions and then draft policies that unite their perspectives.
“Through collective discussion and effective listening, we manage families we work with,” Dennis says. Before this, however, they also conduct interviews with each family member to understand them individually and to build trust. Following that, they hold cross-generational discussions to draft policies that everyone agrees to. In some cases, they use a family constitution as a tool to help families bring all of this together.
Success Story of BirchKED
Since its founding, BirchKED’s journey has been amazing. “Our annual growth rate has averaged 20% per annum, which we are very glad to have achieved,” Dennis says. “We also maintain diversified portfolios that we invest in.”
He highlights that their impact story is in real estate. Their residential properties operate on a monthly rent. Dennis points out that they are not into annual contracts or two-year agreements. He notes that normally, in the industry, property owners require tenants to pay two years in advance. But they feel tenants should not carry such a financial burden.
“If you want to create real impact, especially for young people, you must recognize that many residents may not have started their careers yet, or are just starting out, and don’t have that amount of money to put down upfront,” Dennis says. Allowing them to pay monthly gives them the space to work with the capital they have. “This has its challenges, but for the sake of impact and purpose, we have to do this,” Dennis says.
Strategic goals for BirchKED Holding in 2025
In 2025, Dennis and his team are focused on food security and supply chain efficiency across West Africa. For the past two years, rainfall has not been as expected in this region. Dennis points out that in Africa, especially in West Africa, no rain means hunger. Economists are predicting widespread hunger across West Africa in 2026 and beyond.
“So, for this year, our strategy is focused on food security to create impact and solve the problem of supply chain inefficiencies,” Dennis adds. He intends to solve the problem through business, along with addressing the food security side of it. Therefore, they are revamping the food security initiatives and investments in this area.
Success Is Six Capitals of Wealth
Dennis does not measure success just in financial terms. For him, as a family business consultant and entrepreneur, his idea of success involves six capitals of wealth: financial capital, human capital, structural capital, family capital, societal capital, and spiritual capital. “For me, true success is the combination of these six forms of capital working together to create impact and to be passed on to the next generation,” Dennis says.
Money is critical for any business. So, according to Dennis, having financial capital is essential for success. He says that human capital involves family members, children, and the individual themselves. Building human capital, he explains, means developing one’s intellect and skills, and ensuring continuous learning.
On the other hand, he views structural capital as putting systems in place, such as documentation, legal structures, and compliance. This capital is important because businesses operate in a regulatory environment. “We have to satisfy all the business requirements of regulators in business,” Dennis says.
Then there is family capital, which refers to the interconnectedness of the family. Dennis points out, “You cannot be successful if your family is falling apart, so building strong family capital is equally important.” Next is societal capital, which is about having the right networks around one’s family and the right support systems as an individual. Dennis firmly believes that one’s network is one’s net worth.
The sixth capital of wealth is spiritual capital. Dennis explains that it is not possible to pursue wealth if one loses touch with a higher power or a sense of purpose. “For success, you have to have a sense of purpose for everything that you are doing,” he adds.
The CEO’s Responsibilities and Balance
Dennis starts his day by reviewing the investment performance of BirchKED. He is actively involved in investment performance monitoring, not just investment management. He focuses on strategies of their portfolios and their implementation, and the kind of people they need. “That is the collaboration side of my role to make us successful,” he says.
Dennis has a demanding work schedule. So, how does he maintain a work-life balance? He says that he focuses on what is truly important, following the biblical principle that not all things require one’s time. “I also try to delegate to people,” he adds. “So, you graduate from one level and focus on the important things. That is what I do.”
According to him, when I wake up in the morning, he focuses on the most important things first. “When you break that down for the team, they can then follow through and handle the rest,” he says. “I do this by prioritizing the important tasks, especially early in the morning.”
From 7:45 a.m. to 11:00 a.m. GMT, Dennis dedicates his time to handling the important matters. And the second half of the day is reserved for routine tasks. “That is what has kept me going,” he says.
Future: All of Africa in One Room
Africa Family Business Summit is something close to Dennis’s heart. According to him, it is a platform that brings entrepreneurs, investors, and family businesses together, creating several opportunities for them. Dennis feels a sense of joy when he hears participants share their success stories, the networks they formed, the people they met, and the barriers they broke. He is happy to see the impact being created. But this does not mean he does not value profits.
Dennis points out that the impact they create also brings in profits, as it leads to more collaborations, more investors, and more people believing in them and wanting to work with them.
“So that’s why I’ve dedicated most of my time, aside the assets we manage, to focusing on AFBS, where family businesses across the continent will come together in one room,” Dennis says. “It’s something we are looking forward to.”
So far, they have hosted people from East, South, Central, and West Africa at their summit. Dennis intends to bring together the whole of Africa on one platform. He wants to see Southern Africa, Northern Africa, Francophone Africa, Anglophone Africa, and even Swahili-speaking regions in one room. Dennis believes that when they do that, their portfolios will also grow.
Advice for Aspiring Leaders
Dennis advises aspiring leaders to start with the question, “Why?” He explains that some successful business leaders suffer when they want to transfer to the second or third generation due to a lack of communicated purpose, as they didn’t explore the question, “Why am I doing this?” By answering this question, they gain the advantage of purpose, he says.
“In order to be successful, you have to start with a ‘why’ in order to build a purposeful enterprise,” Dennis tells aspiring leaders.
The Legacy!
Dennis hopes to leave behind a legacy of boldness, quality, and continuity in the work he does. He doesn’t want to be remembered as someone who replicated what already existed. Instead, he wishes to be recognized as a pioneer who did something innovative. For him, this is boldness.
“I am investing time and resources to make sure I’m delivering quality and continuity,” he says. “I am establishing structures so that even when I’m no longer here, I know this business will sustain.”
