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

Women’s Dayoften 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,healthcareand 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.

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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 requiringspecialised 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.

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