S.A's high-net-worth individuals who give revealed

In 2015, 88% of South Africa's high net worth individuals were actively involved in giving back to their communities, whether through financial contributions, volunteering, or offering their professional services. The 2015 Giving Report, produced by the Philanthropy Office of Nedbank Private Wealth, revealed the generous nature of these individuals who are committed to uplifting the less privileged and supporting causes close to their hearts. Noxolo Hlongwane, Head of Philanthropy at Nedbank Private Wealth, shared insights from the report during an interview with CNBC Africa. Hlongwane highlighted the trend observed across the three reports conducted over five years, indicating that nine out of ten high net worth individuals consistently contribute to social causes. Interestingly, there has been a shift towards more individuals volunteering their time and skills to non-profit organizations in recent years, strengthening these organizations. The motivations behind philanthropic commitments were found to be deeply rooted in personal values, with religious beliefs playing a significant role in motivating over 30% of individuals to give back. The desire to make a meaningful contribution and a positive impact on society were also cited as common motivators for charitable giving. Despite economic challenges in 2015, where many sectors faced pressure, the philanthropic commitment of high net worth individuals remained strong. While there was a slight decline from 91% to 88% in giving, the long-term relationship these individuals have with beneficiaries and organizations they support was evident. Hlongwane emphasized that personal values and commitments guide these individuals, making it difficult to scale back on their philanthropic efforts even during tough economic times. When questioned about where high net worth individuals prefer to allocate their philanthropic funds, the survey revealed a high level of confidence in non-profit organizations, religious institutions, and the private sector. In contrast, support for government organizations ranked lower, indicating a preference for entities that are seen as more effective in addressing societal issues. The sectors that received the largest share of contributions from these individuals included social and economic development, support for vulnerable individuals, those with disabilities, and orphanages. Unlike corporates that often prioritize education in line with their business strategies, individuals are driven by personal connections and emotional ties to causes that resonate with their values. The survey conducted by Nedbank Private Wealth reached 400 high net worth individuals across the country, with in-depth face-to-face interviews lasting 30 to 45 minutes. The sample included individuals who met the criteria of earning a minimum of 1.5 million per annum or having investable assets of 5 million, excluding their primary residence. The research was not limited to Nedbank's client base, ensuring a diverse representation of high net worth individuals in South Africa. Despite economic uncertainties and challenges, South Africa's high net worth individuals continue to demonstrate their unwavering commitment to giving back to their communities and supporting causes that make a meaningful difference. Their generosity and dedication serve as a beacon of hope for those in need, showcasing the power of collective efforts in creating positive social change.