According to reports, Generation Zs are in line to inherit trillions of dollars from their parents and guardians in the next 10 years globally with their penchant for holding assets in digital format.
Experts noted that it was important to tailor wealth transfers to fit their financial behaviours and expectations.
In his keynote address, the Chief Executive Officer of Globus Bank, Elias Igbinakenzua, said that research had shown that there is about $90tn to be transferred to the next generation majority of whom are Gen Z in the next ten years.
He noted that Gen Zs were thinking digital, “they are not like what we used to know in time past. We must move with their thinking and create a framework that will sustain that wealth when it’s transferred”.
He said, “Today, we have over $1tn in market cap in digital assets, and if we don’t understand how that works and impact the economy we will be on the losing side because the Gen Z are thinking global, we that will transfer the assets to them must think global, if we don’t do so, most of them will flee from our midst to global realm.”
