NCBA Kisumu Forum Focuses on Legacy Planning
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NCBA Kisumu Forum Focuses on Legacy Planning
Empowering Wealth Preservation Across Generations
NCBA hosted a high-level estate succession planning forum in Kisumu, bringing together platinum banking customers, legal experts, and senior bank executives.
The event focused on key aspects of estate planning, including wills, trusts, and tax implications. Its main goal was to equip clients with practical tools to preserve and transfer their wealth across generations.
Rising Demand for Holistic Financial Guidance
Recent studies by McKinsey and Bloomberg show that 60% of high-net-worth individuals now prioritize comprehensive financial advice.
They are looking beyond investments and placing greater value on estate planning and legal services. This shift reflects the growing demand for integrated financial solutions.
“Our customers are seeking advice beyond investments,” said Mr. Dennis Njau, Acting Group Director of Retail Banking at NCBA. “This forum shows our commitment to walk with them on their journey to economic freedom by offering the right information to protect their heritage.”
NCBA Kisumu Forum Focuses on Legacy Planning
Bridging the Succession Planning Gap Through Expert Insight and Advisory Services
Economic Context Underscores the Need for Planning
The World Bank projects that Kenya’s economy will grow by 5.2% in 2025, with more growth expected in the years ahead. Increased private sector investment and reduced government borrowing are driving this positive outlook.
Despite this momentum, Knight Frank’s Africa Wealth Report highlights a serious gap. While over 70% of wealthy Kenyans plan to transfer their wealth within a decade, only 30% have formal succession plans.
This disconnect shows why structured succession planning is urgent and necessary.
Legal and Financial Partners Offer Expert Insight
NCBA partnered with Owiti, Otieno & Ragot Advocates and the NCBA Bancassurance Life team to deliver the forum. Legal and insurance experts offered valuable insights on early planning, legal clarity, and setting up effective succession structures.
Participants explored the benefits of writing a will, establishing a trust, and planning for tax obligations that affect estate transfers. The discussion also highlighted how NCBA’s advisory services help clients navigate this complex but crucial process.
A Stronger Platinum Customer Proposition
This forum is part of NCBA’s broader strategy to enhance its Platinum Banking Customer Value Proposition (CVP). By introducing structured advisory services, the bank addresses rising customer demand for comprehensive wealth management solutions.
NCBA continues to evolve its role not just as a banking partner but as a trusted long-term advisor. Through these efforts, the bank empowers clients to make informed decisions today for a more secure financial future.
