Ecobank Development Corporation (EDC); the Investment Banking, Securities Wealth and Asset Management (SWAM) arm of the Ecobank Group held a breakfast session on “Intergenerational Wealth: A myth or reality” for High Networth Individuals in Lagos. Country Head/Chief Investment Officer, EDC Securities Wealth and Asset Management (SWAM), Akinola Sowemimo said both EDC and Ecobank Nigeria are well positioned to support businesses in achieving sustainable wealth passed down from one generation to another.
Akinola Sowemimo, while speaking during the session said that “it is not true that we don’t create wealth in Africa, the challenge is how to sustain and make sure that the wealth moves from generation to another. We found out that there hasn’t been enough education for customers, on how to plan for the future, how to plan their wealth for their children, secure their wealth and make it efficient through a number of our products.”
He called on the participants to avail themselves of the various products and services EDC offers, stressing that the company has all it takes to manage and improve customer’s assets. In his remark, Managing Director, Ecobank Nigeria, Patrick Akinwuntan restated the bank’s commitment to having regular sessions on educating its premier customers, on ways they can ensure their businesses outlive them, and successfully transit to another generation.
He noted that as a bank that has footprints in 36 countries in Africa, the Financial Institution could also advice and give customers access to other African markets, stressing that “we believe successful individuals, companies and businesses should endure generations mostly because of significant interest and importance”. “So what we intend to do is; expand the network, markets and opportunities that can further improve the wealth creation, wealth generation and wealth sustenance for our cleints.”
Speaking on the theme, ‘Intergenerational Wealth: A myth or reality’, the Guest Speaker, Lead Advisor, Family Wealth Africa, Folajimi Kuti, stressed the need for customers of the bank to build business models that would outlive them.