Business
Enjovu Family Business and I&M Bank Host Breakfast Series on Estate Planning and Inheritance
Enjovu Family Business, in partnership with I&M Bank Uganda, hosted another edition of its renowned Family Business Breakfast series at Four Points by Sheraton Hotel, Kampala. The event brought together family business leaders, advisors, and key stakeholders for discussions centred on estate planning, inheritance, and strategies to ensure business continuity across generations.
The breakfast focused on best practices for building flexible estate plans that evolve, helping business owners safeguard both their legacy and dependents in the event of unforeseen circumstances.
Speaking at the event, Sam Ntulume, I&M Bank Executive Director and Chief Operations Officer, emphasised the importance of proactive planning. “In Uganda, businesses hardly celebrate their fifth anniversary. This is mainly because there are no plans in place to ensure continuity after the founders pass on. It’s important to keep our businesses alive by thinking beyond today and planning for the future,” Ntulume said.
He highlighted how I&M Bank, which started as a family business itself, supports entrepreneurs through trusts, secure storage of key business documents, and access to flexible loans. Ntulume also announced that I&M Burbidge Capital, the bank’s wealth management sister company, is now licensed to operate in Uganda, offering investment solutions, tax advisory, and financial guidance to help Ugandans protect and grow their wealth.
Legal Insights on Wills and Estate Planning
Csl. Frank Ssewaggude, a Principal Associate from Katende, Ssempembwa Advocates (KATS), urged business leaders to be intentional about creating wills and planning estates. “Clearly indicate how you want your assets divided. This will ensure your dream lives on and everything continues as you would have wanted,” he said.
Hajjat Hasfah Namulindwa, also a Principal Associate at KATS, reinforced the importance of wills in protecting beneficiaries from property disputes and ensuring smooth generational transitions.
Robert Bogere Ali, Assistant Administrator General under the Ministry of Justice and Constitutional Affairs, outlined the legal framework for dividing a deceased person’s estate among heirs, including spouses, children, and dependents. He also emphasised the need to correctly identify next of kin and protect rightful occupants, including widows and children, from wrongful evictions. “Identify your next of kin properly, whether you’re married or not. Identify your heir early enough. It’s better to choose people who are biologically related to you, irrespective of gender,” Bogere advised.
Supporting Sustainable Family Businesses
Annette Nakiyaga, I&M Bank Head of Marketing and Corporate Communications, lauded the partnership with Enjovu Family Business. “Enjovu Family Business is a key initiative that supports the growth and sustainability of family-owned enterprises in Uganda and beyond. Most globally recognised businesses started as family businesses, some lasting over a century and successfully transitioning leadership across multiple generations,” she said.
The Enjovu Family Business Breakfast series provided actionable frameworks, legal guidance, and networking opportunities, helping family businesses address the unique risks, opportunities, and dynamics involved in wealth transfer and generational leadership succession.
By equipping business owners with the knowledge and tools to plan for the future, the event reinforced the critical role of estate planning and inheritance management in ensuring that family enterprises continue to thrive for generations.
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