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South African Residential Facilities for the Elderly in 2021: Increased Demand and Funding Issues Dominate - ResearchAndMarkets.com

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DUBLIN, July 22, 2021--(BUSINESS WIRE)--The "Residential Facilities for the Elderly in South Africa 2021" report has been added to ResearchAndMarkets.com's offering.

South Africa's elderly population aged 60 and over continues to increase as a percentage of the population and currently sits at 5.4 million people. There is much demand for accommodation and care for the elderly, and not enough supply, especially for affordable care, and old people continue to lack access to adequate healthcare, social support, and other basic services. The government's social grant payments for old people and subsidies provided to residential care facilities are insufficient to cover increasing costs, forcing many facilities to close.

Funding Issues: Hundreds of organisations providing social care services across South Africa are struggling financially and have had subsidies cut. Various associations and non-profit organisations' funds are insufficient to cover the costs of providing services to elderly citizens and they came under increased pressure as fund-raising activities did not take place due to the pandemic. This has resulted in growing deficits and closures. Only a small percentage of South Africans are financially able to retire comfortably. The development of private retirement accommodation and care is a growing sector.

High Demand: Demand for care among the elderly is expected to escalate, but South Africa is ill prepared and there is a shortage of affordable residential facilities. The shortage of trained and experienced nurses, and care workers places further challenges on the sector and various associations and old aged homes have called on government to review its funding model.

This report focuses on residential facilities/old age homes for old people in South Africa and includes information on the funding of facilities with a focus on those that are subsidised by government. There are profiles of 27 companies, NGOs and associations including Rand Aid, Algoa Bay Council for the Aged, Flower Foundation Retirement Homes, Botshabelo Haven, Free State Care in Action and Life Esidimeni.

Key Topics Covered:

1. Introduction

2. Description of the Industry

2.1. Industry Value Chain

2.2. Geographic Position

3. Size of the Industry

4. State of the Industry

4.1. Local

4.1.1. Corporate Actions

4.1.2. Regulations

4.1.3. Enterprise Development and Social Economic Development

4.2. Continental

4.3. International

5. Influencing Factors

5.1. Coronavirus

5.2. Economic Environment

5.3. Rising Costs

5.4. Labour

6. Competition

6.1. Barriers to Entry

7. SWOT Analysis

8. Outlook

9. Industry Associations

Company Profiles

  • Afrikaanse Christelike Vroue Vereeniging

  • Algoa Bay Council for the Aged

  • Association for the Aged (The)

  • Badisa

  • Boiketlong Old Age Home

  • Botshabelo Haven

  • Cape Peninsula Organisation for the Aged

  • Executive Welfare Council of the Afm of Sa (The)

  • Flower Foundation Retirement Homes

  • Free State Care in Action

  • Kwabadala Residential Care Facility

  • Life Esidimeni (Pty) Ltd

  • Mangaung Society for the Care of the Aged

  • Methodist Homes for the Aged (Bloemfontein) Npc (The)

  • Methodist Homes for the Aged (Eastern Cape) Npc

  • Methodist Homes for the Aged Npc

  • Neighbourhood Old Age Homes

  • Pietermaritzburg and District Association for the Care of the Aged

  • Rand Aid Association

  • Residentia Foundation

  • Silver Crown Old Age Home

  • Sonop Old Age Home

  • South Africa Red Cross Society Npc (The)

  • Suid-Afrikaanse Vrouefederasie

  • Thekolohelong Welfare Centre

  • Yade Caring Action Npc

  • Zanele Mbeki Frail Care Centre

For more information about this report visit https://www.researchandmarkets.com/r/ybxgb1

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210722005475/en/

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