Nedbank says SA’s philanthropic spirit alive and well with women giving the most
Women now make up more than 50% of givers in South Africa, and roughly one in four givers are black South Africans.
Speaking in Johannesburg during the fifth 'Nedbank Private Wealth Giving Report', Nedbank managing executive wealth management Marilize Lansdell said survey findings reinforced the all-important racial and gender philanthropic transformation trends observed in previous Giving Reports.
“In previous years, the demographics regarding givers were skewed towards predominantly white, older HNWIs (high-net-worth individuals). The latest Giving Report shows a more even distribution of givers across the 36- to 50- and 50- to 65-year-old sub-segments. Importantly, the number of givers in the 18 to 35 age group was at an all-time high, pointing to a growing new generation of HNWIs with a commitment to giving,” she revealed.
She said although the bank’s Giving Report showed some changes in giving habits owing to a variety of factors, not least the impact of Covid-19, the philanthropic spirit is still alive and well in South Africa.
Lansdell said despite the lingering economic challenges evident in post-pandemic South Africa, affluent members of society are still committed to giving their money, time and talents to help and support vulnerable people and communities.
The report highlighted that no less than 83% of HNWIs surveyed gave their money, time or skills during 2021.
About R4.2-billion in cash, R2.6-billion worth of goods and services, and a total of 3.2-million hours of physical volunteerism were provided.
Lansdell said while few HNWIs changed their giving practices in response to the Covid-19 pandemic, the findings of the report point to a few notable shifts in the overall giving landscape.
“While the size of the giving market increased in 2021, there was a significant decline in the amount of volunteering, which is understandable given the national lockdowns that continued into this period, and associated social distancing protocols,” she said.
Lansdell explained that these restrictions also resulted in the majority of giving during the period taking the form of cash donations, which are a safer and more convenient way of providing support during the pandemic.
Despite this, she noted that the total value of cash donations declined by roughly R2-billion from 2018, which was the last time the Giving Report survey was undertaken.
“It’s likely that this drop in the overall value of cash giving is a direct result of the economic challenges created by the pandemic, which resulted in declining income levels for many South Africans, including affluent individuals,” said Lansdell.
The report findings highlighted that around 21% of survey respondents felt less financially secure than they did prior to the pandemic.
However, on balance, the positive findings of the 2022 Giving Report far outweighed any short-term, Covid-related negatives. She explained that the findings pointed to a sustainable philanthropy sector in South Africa.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation