Business Updated: 15 July 2025 09:40 EAT 0 Views | ~ 1 minute

NCBA PLATINUM BANKING DIVISION HOSTS ITS CUSTOMERS IN KISUMU FOR AN ESTATE SUCCESSION PLANNING FORUM

On 23rd July in Kisumu, NCBA hosted an insightful estate succession forum, bringing together its platinum banking customers, industry players, and NCBA executives for a discussion on preserving and transferring wealth across generations.

Insights from recent global studies, including McKinsey and Bloomberg research reports, reveal that 60% of high-net-worth customers are prioritising holistic financial advice, such as services like estate planning and legal advice, beyond traditional investment products, which makes them a key part of the future of financial services delivery.

"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 complex yet 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.

Through initiatives such as this, NCBA is reaffirming itself as not only a financial partner but also a trusted adviser, allowing clients to make informed decisions today for a better future.

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