‘While the economic challenges of recent years have caused a marginal decline in the proportion of SA’s high-net-worth individuals (HNWI) 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.
These are just some of the key findings of the 2018 Giving Report, a biennial research document produced by the Philanthropy Office of Nedbank Private Wealth, which provides in-depth insights into key philanthropy trends, developments and motivations among HNWI across the country.
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.
“While this year’s research showed a slight drop in the proportion of HNW individuals who are givers, from 87% in 2015 to 83%,” Hlongwane says, “this is to be expected as even the wealthier members of society feel the pressure of a sustained tough global economic climate.”‘
Source details: BusinessLive, 13 January 2020