Cash, Children or Kind? Developing Old Age Security for Low-Income People in Africa

Madhurantika Moulick, Angela Mutua, Moses Mutua, Corrinne Ngurukie, Michael Onesimo and Graham A.N. Wright
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Madhurantika Moulick: MicroSave India
Angela Mutua: MicroSave Consulting
Moses Mutua: Freelance consultant
Corrinne Ngurukie: MicroSave Consulting
Michael Onesimo: Freelance consultant
Graham A.N. Wright: MicroSave

A chapter in New Partnerships for Innovation in Microfinance, 2009, pp 253-265 from Springer

Abstract: Declining fertility rates and rising life expectancy are driving global demographic change. With an aging world population, both the number and proportion of the aged are increasing. Presently, two-thirds of the world’s older people live in developing countries. By 2050, this will increase to 80%. The number of people aged over 60 in the developing world is predicted to rise from 375 million in 2000 to 1,500 million in 2050 (Gorman, 2004). In Sub-Saharan Africa the number of people aged 60 and over will more than double in the next 30 years, despite the impact of HIV/AIDS (Mark, 2004). Africa’s older population will increase to 204 million by 2050, from the present 42 million (HelpAge, 2005a): more than one in ten Sub-Saharan Africas will be over 60 (Gorman, 2004). This growth rate of the elderly population will bring economic and social problems, the effects of which will be seen at different levels – from the individual through the continent as a whole. The aged will increasingly face additional crises on two fronts: disintegrating social safety nets and the effects of HIV/AIDS.

Keywords: Focus Group Participant; Taxi Driver; Microfinance Institution; Credit Cooperative; Saving Instrument (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1007/978-3-540-76641-4_15

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