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Africa|Services|Sustainable
Africa|Services|Sustainable
africa|services|sustainable

Nedbank says SA’s philanthropic spirit alive and well with women giving the most

22nd November 2022

By: Thabi Shomolekae

Creamer Media Senior Writer

     

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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.

Edited by Sashnee Moodley
Senior Deputy Editor Polity and Multimedia

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