As South Africans live longer and the country’s population continues to age, the silver economy is becoming an increasingly important part of our economic landscape.
The term refers to the industries and services that support an ageing population, from retirement living and healthcare to specialised care, financial services, transport and other services that help older people live well. While much of the conversation around this growing sector focuses on the needs of older people, there’s another important story behind the scenes: the people who make this support possible.
And increasingly, women are at the heart of it.
According to Stats SA, the number of people aged 60 and older in South Africa has grown from 3.6 million in 2002 to 6.6 million in 2025. This group now accounts for more than 10% of the country’s population, with women making up more than 60% of the older population.
As life expectancy rises and age-related chronic conditions become more prevalent, the demand for quality retirement living and specialised care services is expected to grow too.
More than caregiving
When we think about working in elder care, nursing and caregiving are often the first roles that come to mind. These are undoubtedly important, but they are only part of what makes a retirement community work.
Modern retirement living involves a wide range of skills. Villages need village managers overseeing the communities, financial administrators managing accounts, care managers coordinating increasingly specialised support, registered nurses qualified for healthcare, and executives ensuring the long-term stability of the organisation.
Women are working across all these areas, bringing professional expertise alongside the interpersonal skills needed to support older people and their families.
At Trans-50, women make up 83.8% of the workforce and 84% of leadership and management positions. Their responsibilities extend across virtually every part of the organisation, showing how broad the career opportunities within the silver economy can be.
This critical work that has traditionally been carried out informally by women within families is increasingly being recognised as professional work requiring specialised knowledge, emotional intelligence and ongoing development.
An economy that supports more than older people
The economic impact of the silver economy also extends beyond the retirement communities.
Trans-50 employs more than 200 people across its villages, supporting hundreds of households through stable employment. Across South Africa, the growing demand for services for older people potentially has the power to create jobs in healthcare, administration, hospitality, finance, facilities management and many other fields.
These jobs can have a ripple effect. Stats SA reports that around 73% of older South Africans rely on the old-age grant, while many older people live in multigenerational households. This means that income earned within the silver economy can ultimately support not just individual employees, but wider families and communities.
The sector therefore has an important role in supporting both older South Africans and contributing to the broader economy.
Preparing for an ageing population
With South Africa’s older population continuing to grow, one of the sector’s biggest challenges will be ensuring there are enough skilled people to meet future demand.
Supporting older people can involve increasingly complex healthcare, social and emotional needs. This makes ongoing training and professional development vital, while also creating opportunities for people looking for meaningful, long-term careers.
The silver economy may not always receive the same attention as some of South Africa’s more prominent industries, but its importance is becoming harder to overlook.
Behind every retirement community is a network of people making it work. They manage finances, coordinate care, maintain facilities, provide healthcare, prepare meals, support residents and help create communities where older people can continue to live with dignity, independence and purpose.
Women are playing a significant role in that work.
As South Africa adapts to the realities of an ageing population, the future will depend not only on better facilities and healthcare, but on the skilled people who provide the expertise, leadership and human connection that make quality ageing possible.