Nedbank Private Wealth – Managing the Giving Report V
Date of work: 2022
Nedbank Private Wealth (NPW) launched the first edition of The Giving Report in 2010, a research initiative that was the first of its kind in South Africa, looking at the giving behaviours and practices of high-net-worth individuals (HNWIs). Trialogue worked alongside NPW in 2010 to design the survey – using global benchmarks and best practice market research – and to analyse the findings and draft the first report.
As a business NPW has continued to invest in this research due to consistently positive feedback, and the belief that this research plays a significant role in strengthening philanthropy in South Africa. Trialogue has supported NPW on every edition and in 2022, Trialogue was again commissioned by NPW to produce the fifth Giving Report. This edition includes tracking of the giving behaviour of HNWIs over time, insights from the primary research and opinion pieces by experts on topical issues in philanthropy.
Trialogue’s role was to manage the production of the report, including the research design, management of data collection, data analysis, report drafting and editing and management of design and print. Trialogue delivered the report with support from field research company, Genex, and graphic designers, Green Grass Design.
A total of 409 interviews were conducted with HNWIs around South Africa between April and June 2022. Each interview consisted of 74 questions structured to build an understanding of the nature of HNWI giving in South Africa. Respondents were questioned on the quantum of their giving and the form that this took (whether cash, goods or time), as well as what motivated them to give. The interviews were also structured to gain insight into what influences givers’ decisions around who to give to and what causes to support.
Results show that the country’s pool of philanthropic resources contracted significantly since the last survey in 2018, at a time when the scale of need was unprecedented. The estimated value of total cash giving shrunk by R1.9 billion, while non-cash donations fell by half a billion rand and over a million volunteer hours were lost. However, the results also confirm a continued commitment to supporting social causes, with 83% of HNWIs giving in 2021, driven in part by a transforming cohort of HNWIs. Women and Black South Africans made up a greater relative proportion of givers than ever before. And a third of givers are relatively new to the sector, with less than five years of giving experience.
HNW givers continued to be motivated by their passion for specific causes. Most maintained or expanded their support of the social sector, including for vulnerable children and older people. In choosing to also support responses to the Covid-19 pandemic, however, contributions waned in other areas – including education and religious institutions.
About a fifth of HNW givers believed they already contribute enough and would not be swayed to give more. Most, however, remained open to increasing their giving with positive turns in the economy, growth in their own wealth or income, or in response to specific needs, among other factors. These findings suggest a strong foundation for recovery and future growth in the philanthropic sector, and the possibility of returning to – or even exceeding previous levels of giving.
Hein Klee: Head of International, Nedbank Private Wealth