Now it can apply those wealth management skills to make philanthropy more effective through its Wealth and Investment business area.
“We have built up years of experience within the bank, so we have models that can show you what you can give on a sustainable basis, while still preserving or growing your capital,” said Philip Faure, head of Cape Regions and Philanthropy at Standard Bank Wealth and Investment. "As an example, I did a modelling exercise for a corporate foundation that allowed this foundation to increase its funding for charitable causes from R30million a year to R80m a year, while at the same time preserving its capital."
Wealthy people want to spread some of their good fortune to other people to uplift the societies they live in, so job creation, training and education rank as the leading causes wealthy Africans are striving to support, according to the 2018 Wealth Report published by Knight Frank, Standard Bank Wealth and Investment’s global property consulting partner.
While the 2018 report highlights the rise in the importance of Africa as a wealth investment location, it also shows that many wealthier families and investors are very concerned about the world in which they live and strive to make a difference by funding causes that are close to their hearts.