April 2024

Mohammad Anas Wahaj | 28 apr 2024

According to the report, 'Grounded in Tradition, Looking to the Future: Understanding Next-Generation Philanthropy in the Middle East', conducted by the Pearl Initiative, the Zovighian Partnership, and the Bill & Melinda Gates Foundation, and based on a survey of 80 emerging and established philanthropists based in Gulf Cooperation Council (GCC) countries, the Levant, and Egypt, points out the inclination of younger philanthropists towards individual-driven giving and a shift away from traditional family foundations. HIGHLIGHTS OF THE REPORT - Nearly 60% of respondents believe direct funding is the most effective strategy; Over 45% are embracing non-traditional methods like impact investing, microlending, and donor-advised funds; Female philanthropists are more likely to invest in initiatives supporting women and girls, potentially leading to a rise in efforts promoting female economic inclusion; 65% of respondents believe in the positive impact of philanthropy in the Middle East over the next five years. Badr Jafar, Founder of the Pearl Initiative and CEO of Crescent Enterprises, says, 'Data and research are crucial for enhancing philanthropic impact. This is especially true as the next generation transforms the practice by demanding more hands-on involvement and prioritizing accountability.' Lynn Zovighian, Founder of the Zovighian Partnership, says, 'Delivering this first-time research was crucial for our philanthropic community,' Read on...

Daily News Egypt: Next-generation philanthropy in MENA: Shift towards individualized giving
Author: NA

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