RICH South Africans donated R8bn in cash, R5.1bn in goods and services and 7.9-million hours of their time to charity last year, cementing South Africa’s place as the "third or fourth" most-giving nation.
This is according to Nedbank Private Wealth’s second Giving Report, released on Thursday.
The report estimates that 91% of South Africa’s nearly 300,000 wealthy individuals gave because they "care for a cause", "want to make a difference" and "want to give back to my community".
Religious beliefs and family traditions ranked fourth and fifth as reasons to give.
South Africa’s wealthy gave from the heart, said Nedbank Private Wealth philanthropy specialist Noxolo Hlongwane.
Nedbank defines "high net worth" as those earning more than R1.5m a year or having investable assets (minus private residence) of at least R5m.
The global economic crisis had knocked South Africa’s giving, cutting the percentage of those ready to dip into their pockets from 2010’s 94% to 91%. Seven percent of these philanthropists put down more than R100,000, while 63% gave less than R25,000.
Children’s Hospital Trust CEO Louise Driver, named fundraiser of the year at last week’s Global Awards for Fundraising, said "those who give more than R100,000 tend to give millions".
Ms Hlongwane said it was "quite funny" that 70% of these donors did not measure the success of their giving.
Nedbank surveyed 401 people, all randomly selected and not all clients. The survey showed the inclination to give was less a factor of demographics than access to resources. Net worth was the best indicator of giving status, and of the amount given.
Political parties and advocacy groups were the least likely to receive funding from these powerful individuals, with only 4% tossing largesse their way. Social and community development, especially orphans and vulnerable children, tugged hardest at purse strings, with more than two-thirds giving to this sector.
Ms Hlongwane said donors had "trust issues" with political parties and were concerned the funds given would not be used for their intended purpose.
This is according to Nedbank Private Wealth’s second Giving Report, released on Thursday.
The report estimates that 91% of South Africa’s nearly 300,000 wealthy individuals gave because they "care for a cause", "want to make a difference" and "want to give back to my community".
Religious beliefs and family traditions ranked fourth and fifth as reasons to give.
South Africa’s wealthy gave from the heart, said Nedbank Private Wealth philanthropy specialist Noxolo Hlongwane.
Nedbank defines "high net worth" as those earning more than R1.5m a year or having investable assets (minus private residence) of at least R5m.
The global economic crisis had knocked South Africa’s giving, cutting the percentage of those ready to dip into their pockets from 2010’s 94% to 91%. Seven percent of these philanthropists put down more than R100,000, while 63% gave less than R25,000.
Children’s Hospital Trust CEO Louise Driver, named fundraiser of the year at last week’s Global Awards for Fundraising, said "those who give more than R100,000 tend to give millions".
Ms Hlongwane said it was "quite funny" that 70% of these donors did not measure the success of their giving.
Nedbank surveyed 401 people, all randomly selected and not all clients. The survey showed the inclination to give was less a factor of demographics than access to resources. Net worth was the best indicator of giving status, and of the amount given.
Political parties and advocacy groups were the least likely to receive funding from these powerful individuals, with only 4% tossing largesse their way. Social and community development, especially orphans and vulnerable children, tugged hardest at purse strings, with more than two-thirds giving to this sector.
Ms Hlongwane said donors had "trust issues" with political parties and were concerned the funds given would not be used for their intended purpose.
