South Africa's Rich Are Still Giving - and They're Giving Extra

analysis

The fourth installation of The Giving Report, presented by Nedbank Private Wealth on 19 November in Sandton, unpacked the latest research findings pertaining to high-net-worth giving in South Africa's current economic climate.

Despite our compromised and deteriorating economy, from rising unemployment, weak investor sentiment and lingering policy uncertainty, resulting in a marginal decline in the proportion of South Africa's high-net-worth individuals (HNWI) who are involved in humanitarian activities, those who are still giving have increased the value of their largesse.

Furthermore, the demographics of giving are changing and steadily becoming more diverse.

According to the report, the proportion of HNWI giving money, time or goods in 2018 remained high. However, there is a declining trend, from 94% in 2010, 91% in 2012, 88% in 2015, down to 83% in 2018.

This is to be expected as even the wealthier members of society feel the pressure of a sustained tough global economic climate, said Noxolo Hlongwane, head of philanthropy at Nedbank Private Wealth.

"It is heartening to observe that more than 80% of our nation's high-net-worth individuals are still moved by the increasing challenges they see so many of their fellow South Africans facing, and are highly motivated to make a...

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