Nedbank Private Wealth Giving Report: A survey on the giving practices of South Africa's high-net-worth individuals
The third edition of the Nedbank Private Wealth Giving Report builds on the findings of the 2010 and 2012 Nedbank’s research into the philanthropic commitments of South Africa’s high-net-worth (HNW) individuals. The authors of the report assert that, “despite a challenging economic environment, our country’s HNW individuals and families have remained committed to uplifting those who are less fortunate than themselves.”
The Giving Report analysed giving behaviours, patterns and trends of high-net-worth (HNV) South Africans. Nedbank surveyed 400 HNV individuals, individuals who earned at least R1.5 million a year or own investable assets of more than R5 million.
* 88% of high-net-worth individuals gave money, time or goods in 2015, slightly down from 91% in 2012.
* Only 5% of givers executed their giving through a trust.
* 60% gave less than R25 000 each (2012: 63%).
* Larger givers were more likely to make use of a formal budget or strategy.
* 70% do not measure the impact of their contributions. Of those who do, the most common approach is visiting the organization
* 34% of respondents cited religious beliefs as a motivation to donate, down slightly from 37% in 2012. These givers tended to give greater amounts.
* 43% of givers cited personal networks as a means used to identify beneficiary organisations, up significantly from 31% in 2012.
Professor Alan Fowler, Visiting Professor in The Chair in African Philanthropy at Wits Business School, asserts that African philanthropy should not be measured according to Western standards. African Philanthropy has to be defined according to its own story... part of that story is that giving must have moral value in that it has to be of some value to someone else.”
To that end, the top reasons South Africans cite for giving clearly have a moral bend:
Top reasons for giving
1. Care about the cause
2. Want to make a difference
3. Want to give something back to my community
4. Religious beliefs
5. Want to set an example