13 January 2020 - 14:05While the economic challenges of recent years have caused a marginal decline in the proportion of SA’s high-net-worth individuals who are involved in philanthropic activities, the average value of such philanthropy by those who are still giving has increased. In addition, the demographics of those involved in giving are changing, and becoming steadily more diverse.
According to Noxolo Hlongwane, head of philanthropy at Nedbank Private Wealth, the 2018 Issue of The Giving Report, which is the fourth issue of this insightful research document, highlights that, despite facing more challenging economic circumstances, most wealthy SA citizens remain deeply committed to applying their finances and skills for the upliftment of disadvantaged and vulnerable people, families and communities in the country.
“It is heartening to observe that more than 80% of our nation’s HNWI are still moved by the increasing challenges they see so many of their fellow South Africans facing, and are highly motivated to make a positive difference to society,” she says, “and this sincere desire to help has seen many of them providing even more support to the causes that are close to their hearts”.
“For the first time since we began producing this report, our research showed a clear shift in terms of the diversity of South Africans who now fall into the HNWI category, with more female, African, and Asian participants and this increase in diverse givers — particularly in the numbers of women — not only points to the effectiveness of the country’s equality and inclusion efforts, but also augurs well for a more sustainable and far-reaching philanthropic community in the future,” says...
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