The Center for Financial Literacy Education Africa marked the Second Edition of the National Estate and Gift Planning Awareness Conference on the 18th of October, 2024 at the Ghana-India Kofi Annan Centre of Excellence in Accra.

The annual event which is a major activity during the October Estate and Gift Planning Awareness Month Campaign every year brought together a diverse group of young professionals, including health professionals, banking and finance professionals, and experts within the financial and legal community to discuss the pivotal theme, “Estate and Gift Planning: An Instrument for Wealth and Sustainability; Giving Back Means Giving Forward.”

The conference underscored the importance of estate and gift planning as a critical tool for both wealth management and sustainability. Estate planning involves making strategic decisions about the transfer of assets during a person’s lifetime and at death, while gift planning typically refers to charitable donations made during one’s lifetime or as part of an estate plan. Both processes help individuals and families maintain financial health, protect assets, and create meaningful legacies.

The concept of “Giving Back Means Giving Forward” was a focal point, highlighting how charitable giving and thoughtful and careful estate planning can benefit not only beneficiaries but also communities and future generations. This idea of paying it forward through well-structured estate and gift plans promotes not only personal wealth preservation but also sustainable social impact.

Experts at the conference discussed various strategies that allow individuals to leverage their wealth in ways that contribute to societal well-being, such as Charitable Trusts and Foundations: Structuring gifts to create long-lasting legacies through donations to charitable causes, ensuring that funds are managed effectively for generations.
Writing of Wills; a will gives individuals the power to determine how their wealth will be distributed after death. Without a will, intestacy laws dictate how assets are divided, which may not align with the deceased wishes.

The collaborative nature of the conference emphasized how estate and gift planning integrates cross-disciplinary expertise, combining legal, financial, health, and philanthropic knowledge to achieve sustainability, wealth preservation, and the common good.

A five-member advisory board was unveiled at the conference that would provide strategic guidance to the Center for Financial Literacy Education Africa in its mission to empower Africans with knowledge to make informed financial decisions. Their responsibilities include shaping policies that promote financial literacy, advising on educational programs, facilitating partnerships with key stakeholders, and supporting fundraising efforts to sustain the Center for Financial Literacy Education Africa’s initiatives. The five-member advisory board was; Mr. John Awuah, Chief Executive Officer of Ghana Association of Banks, who would serve as the chairman of the board, Prof. Enoch Opoku Antwi, Dean of Business and Communication Arts, Academic City University College, Mr. Daniel Ofori-Dankwa, President of Pro Patria Limited, Mr. Kennedy Wiafe Effah, Lawyer and Legal Practitioner at Nsiah Akuetteh & Co, and Mrs. Ramat Ebella Whajah, Sector Head of the Accra-Tema Zone, National Investment Bank.

The CFLE team led by Mr. Peter Asare Nyarko expressed his profound gratitude and excitement to work with the advisory board to elevate the Centre’s initiatives and projects to achieve its mission and long-term vision of an Africa in which all people are financially aware and financially literate and have access to ethical financial advice, products, and services.

This conference provided a platform for professionals to exchange ideas and reinforce the significance of estate and gift planning in fostering a culture of responsible wealth management and philanthropy.

The event was partnered and supported by The Financial Awareness Foundation, Ghana Association of Banks, GhanaThink Foundation, Pro Patria Limited, SAGE Ghana, Reformation Community, Bold Labels, and many others!