Policymakers have been advised to introduce estate and financial planning into Ghana’s education system and national culture to promote financial responsibility, secure family legacies, and prevent inheritance-related conflicts.
This call was made at the third edition of the National Estate and Gift Planning Awareness Conference 2025, held at the Ghana-India Kofi Annan Centre of Excellence in ICT (GI-KACE) under the theme “Securing Legacies, Building Families, and Protecting the Future.”
The annual event, held every October and organised by the globally renowned financial advocacy group CFLE Africa, aims to promote awareness on wealth preservation, succession planning, and the importance of preparing legal documentation for asset transfer.
This year’s event once again brought together financial experts, legal practitioners, academics, and policymakers to deliberate on key issues, including financial literacy, household wealth, and estate planning.
Delivering the keynote address, Mrs. Efua Ghartey, President of the Ghana Bar Association (GBA), called for the integration of estate planning into Ghana’s financial education framework. She urged that lawyers, financial advisors, notaries, and community leaders be empowered to make estate literacy a household topic.
She noted that instruments such as the National Pensions Act, 2008 (Act 766), reinforce the principle that deliberate financial decisions—such as saving, documenting, and investing—shape and secure a prosperous future.
“I commend CFLE Africa for creating this platform where law, finance, and social consciousness intersect,” Mrs Ghartey said.
“To the professionals here, let us become partners in life planning, educating people about their responsibilities to themselves, their families, and their communities,” she added.
Mrs Ghartey further called on policymakers to strengthen legal frameworks to simplify estate administration, eliminate unnecessary delays, and ensure justice is accessible—particularly for widows, children, and dependants.
“Make legal services accessible and turn estate planning into an act of empowerment,” she affirmed.
She emphasized that every legacy begins with the decision to plan and urged the public to normalise seeking professional guidance on financial planning matters.
“Consult the professionals. Don’t wait for loss or confusion to compel you into action. Make the time to put your will together, register your land, plan your pensions, and teach your children the values you hold dear.”
“Estate and gift planning are not privileges for the wealthy but responsibilities for the wise,” she urged.
Chief Executive Officer of the Ghana Association of Banks and Board Chair of CFLE Africa, Mr John Awuah, underscored the central role of financial literacy in household wealth creation and estate management.
He encouraged Ghanaians to cultivate a culture of financial discipline and planning, stressing that “financial literacy is not just about earning more but managing and preserving what we already have.”
The President of CFLE Africa, Mr Peter Asare Nyarko, explained that this year’s conference focused on legacy building and succession planning, adding that the initiative was established to promote national awareness around estate and gift planning, philanthropy, and will preparation.
“Legacy is not only about the material possessions we leave behind. It’s about the goodwill and values we inculcate in others. That is the true measure of wealth.” Mr Nyarko stated.
He further urged that financial and estate education be introduced at the senior high school level to foster a financially responsible generation.
Prof. Enoch Opoku Antwi, Dean of Business and Advisory Board Member for Entrepreneurship and Communication Arts at Academic City University, highlighted the importance of proactive financial planning.
“If you don’t plan your finances today, the future will plan it for you—and that planning will be miserable,” he cautioned.
He also proposed that the government consider financial incentives for early adopters of estate planning, noting that poor financial education often leads to family disputes and inheritance conflicts.
“People fight and even kill each other due to poor knowledge of financial planning,” he added.
The conference concluded with a call for the inclusion of estate and gift planning education in schools to help build a financially literate and future-conscious society.
