The various speakers of the day in a group photo
In 2012, dfcu Bank was one of the first local banks to develop personalised banking services for individual affluent customers in a bid to protect and increase their individual and business assets. It’s upon this background that dfcu Bank hosted a selection of customers to a learning and networking event under the theme ‘Enabling Intergenerational Wealth creation in Turbulent Times’, held last week. The event was held at the Kampala Serena Hotel and featured Patrick Ayota, the Managing Director of the National Social Security Fund as the keynote speaker.
Various speakers including the CEO of dfcu Bank, Charles Mudiwa expounded on the strategies required for safeguarding and expanding wealth across generations amidst ongoing global uncertainties.
Mary Kansiime, Head- Pinnacle Banking at dfcu Bank, noted that the Bank is equipped to guide customers in making informed investment decisions through its diverse range of products, designed to provide a comprehensive suite of short and long-term financial solutions.
Julius Kateera, Head of Financial Markets at dfcu addressed the impact of regional and global developments on wealth creation and management. In particular, he pointed to opportunities for investment such as the projected growth of Uganda’s economy (between 5.5 and 6.5% in FY 2023/2024 up from 5.3% in FY 2022/2023), bolstered by investments in Oil & Gas, manufacturing, and construction.
Charles Mudiwa, the CEO of dfcu Bank, shared his insights on achieving intergenerational wealth continuity. He emphasized the dual nature of wealth transfer which requires the passing on of values as well as material assets. He highlighted some of the Bank’s such as its Bancassurance offering which reflects dfcu’s commitment to safeguarding and managing wealth across generations.
The keynote speaker at the breakfast event, Patrick Ayota, the NSSF Managing Director, shed light on the principles of wealth accumulation, stressing the importance of converting cash into income-generating assets and advising guests against accumulating debt. Ayota also highlighted the need for diversification while making investment choices. Overall, he underscored the value of legacy planning and the role it plays in ensuring smooth wealth transition and minimization of family conflicts.
Guided by its purpose to ‘Transform Lives and Businesses in Uganda’, dfcu Bank is committed to being an enabler of the conversations and activities that will ensure the continuity, increase and responsible management and once again passed on to even more future generations.