The Center for Financial Literacy Education Africa (CFLE Africa) marked the second edition of its National Estate and Gift Planning Awareness Conference on October 18, 2024, at the Ghana-India Kofi Annan Centre of Excellence in Accra.

This annual event is a key activity of the October Estate and Gift Planning Awareness Month Campaign and brought together a diverse group of professionals from sectors such as health, banking, finance, law, and philanthropy.

The theme for this year’s conference, “Estate and Gift Planning: An Instrument for Wealth and Sustainability; Giving Back Means Giving Forward,” underscored the importance of estate and gift planning as a strategic tool for both wealth management and sustainability.

During the conference, experts highlighted the value of estate and gift planning in preserving financial health, protecting assets, and creating lasting legacies.

Estate planning involves making deliberate decisions about the transfer of assets during one’s lifetime and after death. Gift planning, on the other hand, refers to charitable donations made either during one’s life or through an estate plan. Together, these processes ensure individuals and families not only preserve wealth but also contribute positively to their communities and future generations.

The conference’s focus on the concept of "Giving Back Means Giving Forward" emphasized how thoughtful estate and gift planning can have a transformative impact. By structuring their giving in ways that promote sustainable social impact, individuals can leave legacies that benefit both their beneficiaries and society. Discussions centered on key strategies such as:

Charitable Trusts and Foundations: Structuring gifts to support charitable causes while ensuring effective management for future generations.

Writing of Wills: Ensuring individuals have control over the distribution of their wealth. The absence of a will often leads to intestacy, where laws determine how assets are divided, potentially conflicting with the deceased's wishes.

The collaborative nature of the conference underscored the integration of legal, financial, health, and philanthropic expertise in estate and gift planning. This holistic approach ensures not only wealth preservation but also promotes the common good and societal well-being.

A key highlight of the event was the unveiling of a five-member advisory board that will provide strategic guidance to CFLE Africa as it works to empower Africans with the knowledge needed to make informed financial decisions.

The advisory board’s responsibilities will include shaping policies, advising on educational programs, building partnerships with key stakeholders, and supporting fundraising efforts to sustain CFLE’s initiatives.

The members of the advisory board are:

Mr. John Awuah, CEO of the Ghana Association of Banks, who will serve as the chairman.

Prof. Enoch Opoku Antwi, Dean of Business and Communication Arts at Academic City University College.

Mr. Daniel Ofori-Dankwa, President of Pro Patria Limited.

Mr. Kennedy Wiafe Effah, Legal Practitioner at Nsiah Akuetteh & Co.

Mrs. Ramat Ebella Whajah, Sector Head of the Accra-Tema Zone at the National Investment Bank.

Speaking at the event, Mr. Peter Asare Nyarko, the Executive Director of CFLE Africa, expressed gratitude for the contributions of the newly appointed advisory board and outlined his hopes for the future.

He emphasized that the conference had provided a crucial platform for professionals to exchange ideas, reinforcing the significance of estate and gift planning in fostering responsible wealth management and philanthropy.

“Together, we aim to build a financially literate society where individuals are not only equipped to preserve their wealth but also to give back in ways that promote sustainability and societal well-being,” Nyarko noted.

The National Estate and Gift Planning Awareness Conference is part of CFLE Africa's broader mission to create a financially aware and empowered Africa, ensuring that everyone has access to ethical financial advice, products, and services.

The conference served as a vital opportunity for professionals across multiple sectors to collaborate and explore the role of estate and gift planning in building a sustainable future. By blending personal wealth preservation with a commitment to social good, the Center for Financial Literacy Education Africa continues to lead the conversation on financial responsibility and philanthropy in Ghana and across the continent.