TARYN POUNCETT | The women powering SA’s ‘silver economy’

Women’s Day often celebrates pioneers and leaders who have broken barriers in traditionally male-dominated industries. Yet one of South Africa’s fastest-growing sectors has long been driven by women.

As South Africans live longer and the country’s population ages, the “silver economy” — industries supporting older persons through retirement living, healthcare and specialised care — is becoming an increasingly important part of the nation’s economic fabric.

Behind that growth is a workforce composed largely of women whose contributions extend far beyond caregiving.

According to Stats SA, the number of people aged 60 and older has grown from 3.6-million in 2002 to 6.6-million in 2025, now accounting for more than 10% of the country’s population.

Women make up the majority of South Africa’s elderly population, accounting for more than 60%. As life expectancy rises and age-related chronic conditions become more prevalent, the demand for quality retirement living and specialised care services will continue to rise.

Meeting that demand requires more than just compassion. It depends on a skilled workforce capable of managing complex communities where healthcare, finance, operations and resident wellbeing intersect.

While nursing and caregiving are still at the heart of retirement living, they represent only part of the picture. Across the sector, women are leading organisations as executives, village managers, financial administrators, care managers and registered nurses. Every role contributes to creating spaces where the elderly can live with dignity, independence and purpose.

For example, at Trans-50, a local organisation that runs several retirement villages, women make up 83.8% of the workforce and hold 84% of leadership and management positions.

Their responsibilities extend across every aspect of the organisation, illustrating how the silver economy creates meaningful career opportunities beyond traditional caregiving roles.

This reflects a broader shift within South Africa’s economy. Work that has historically been performed informally by women within families is increasingly being recognised as a profession requiring specialised skills, emotional intelligence and continued development. As the sector evolves, elder care is emerging not simply as an act of service, but as a career path with growing demand and long-term opportunity.

The economic effect reaches well beyond retirement communities themselves. Trans-50 employs more than 200 people across its villages, supporting hundreds of households through stable employment.

Nationally, these jobs play an equally important role. Stats SA reports that about 73% of older South Africans rely on the old-age grant, while many live in multigenerational households where every income supports an extended family. Employment in the silver economy therefore strengthens not only retirement services but also local economies and communities.

Yet the sector faces an important challenge. As the country’s ageing population grows, so too will the need for skilled professionals equipped to support older persons with increasingly complex needs. Continued investment in training and development will be essential to ensuring the industry can meet future demand while attracting the next generation of talent.

The silver economy may not always attract the public attention afforded to some industries, but its importance will only continue to grow. Behind its success are thousands of women whose expertise, leadership and compassion sustain a sector that touches the lives of senior citizens and their families every day.

This Women’s Month, their contribution deserves recognition not only for the care they provide, but for the vital role they play in building one of the most rapidly expanding economic sectors locally.

As the country prepares for the realities of an ageing population, it is worth recognising that the future of ageing will depend not only on better facilities or healthcare but also on the women whose expertise, leadership and humanity are already powering South Africa’s silver economy.