NCBA recently hosted an insightful estate succession forum, bringing together its platinum banking customers, industry players, and NCBA executives. The forum featured discussions on preserving and transferring wealth across generations.
“We recognise that our customers are seeking comprehensive financial advice not just on investments, but on other aspects as well, including legal and estate matters,” said Mr. Dennis Njau, Ag. Group Director, Retail Banking at NCBA. “The forum is part of our continuous endeavour to walk hand in hand with them to achieve the journey to economic freedom, providing them with the right information to protect their heritage.”
Backed by World Bank projections, Kenya’s economy is expected to grow by 5.2% in 2025, with further strengthening to 5.7% in non-resource-rich countries like Kenya. This is largely attributed to increased private sector investment and reduced government borrowing from the domestic market. Amid this economic momentum, Knight Frank’s Africa Wealth Report reveals that while over 70% of Kenya’s wealthy individuals intend to pass on their wealth within a decade, only 30% have formal succession plans in place. This disconnect underscores why structured succession planning is critical.
In partnership with Owiti, Otieno & Ragot Advocates and the NCBA Bancassurance Life team, the conversation focused on key components of estate planning, including Wills, Trusts, and Tax implications. It also showcased NCBA’s tailored legal and financial guidance for its customers, helping them navigate the critical process of succession planning. Representatives from NCBA Insurance also shared expert advice on the importance of early planning, legal clarity, and systematic succession planning.
This initiative forms part of NCBA’s broader strategy to enhance its banking Platinum Customer Value Proposition (CVP). The bank is transforming its proposition to include more structured, value-added advisory services in response to growing customer demand for integrated wealth management solutions.