2:50 PM Plenary 10: The Power of Going Together - Harnessing and Leveraging Strengths in Family Foundations
Philanthropy in Africa is at an exciting stage in development. New platforms, like the African Philanthropy Forum, established and led by Africans are providing the means Africans to engage, learn and share with each other on the optimal methods for long term and sustainable giving. Given the development challenges faced by the continent, there are various ways in which Africans can be a part of the ‘philanthropy’ conversation. Also, philanthropy is an expression of the family’s ethical values and belief and a useful tool for forging a bond with the next generation, as it often reflects the family’s concerns to forge a legacy and ensure continuity of the family’s business and assets for future generations. Research shows that 81% of world’s largest families practice philanthropy, usually using the structure of a family trust or foundation to regularly deploy some of the family’s wealth for philanthropic endeavours.
