NCBA Group has urged wealthy families and business owners to integrate governance and succession planning into their long-term wealth management strategies to safeguard assets and preserve family legacies across generations.
The call was made during NCBA’s Intergenerational Wealth Forum held in Nairobi, bringing together families, entrepreneurs, wealth specialists and other stakeholders to discuss the financial, legal and governance issues shaping the transfer of wealth.
Globally, more than US$83 trillion is expected to be transferred over the next two decades, with approximately US$74 trillion projected to move directly between generations. NCBA said the scale of the transition highlights the need for families to prepare not only to transfer wealth but also to preserve and grow it.
Africa is also witnessing significant growth in private wealth. According to the Africa Wealth Report 2025, the continent has approximately 122,500 dollar millionaires, a figure projected to increase by 65 per cent over the next decade.
Kenya has about 6,800 dollar millionaires, with approximately 4,200 based in Nairobi. The country is also grappling with more than 13,000 succession cases pending before the courts, highlighting the importance of proactive estate and succession planning.
Speaking during the forum, NCBA Group Managing Director John Gachora said the growing pool of wealth makes succession planning an increasingly important component of long-term wealth management.
“Every successful enterprise eventually reaches a point where the conversation must evolve from how wealth is created to how it is preserved, protected and passed on. This transition is happening now, and families need to prepare for it,” Gachora said.
He noted that successful wealth transfer involves more than deciding who inherits family assets, requiring consideration of governance structures, preparation of the next generation, as well as legal, tax and investment implications.
“Without deliberate planning, wealth can become a source of complexity rather than opportunity,” he said, adding that the greatest legacy lies in the values, continuity and opportunities passed to future generations.
Discussions at the forum focused on family business succession, estate planning, governance, investment structures, taxation and preparing younger generations for responsible stewardship.
Experts from Bowmans and Strategic Consultants Ltd also shared insights on estate planning, governance, legal structures and managing the transition of family wealth.
NCBA said it is supporting customers through a wealth proposition covering Wealth Management, Life Insurance and Investment Advisory, complemented by specialist partners in legal, tax and estate planning.
The bank said its Relationship Managers work with clients to understand their long-term aspirations and connect them with expertise needed to navigate complex wealth decisions.
Forum attendees were also offered an opportunity to sign up for the NCBA Visa Infinite Card, which provides benefits including global airport lounge access, personal concierge services and multi-trip travel insurance.