Aging, caregiving, financing: The unspoken crisis facing women in Kenya

Small and Medium Enterprises (SMEs) are advocating for increased local funding to bridge the gender finance gap, create jobs, and drive economic growth—especially as international aid continues to dwindle.

At the heart of this conversation is the need to integrate gender mainstreaming into economic policies to secure women’s financial independence.

Grace Wachori, Africa Regional Director at the Aspen Network of Development Entrepreneurs (ANDE), emphasizes that financial security is deeply tied to mental well-being.

“You can feel the hopelessness in this country, right? Women, especially, are constantly asking themselves - how do I sustain myself?” Wachori remarked at a recent engagement in Nairobi.

She highlights that financial instability creates a cycle where women make progress through psychosocial support but later fall back into hardship.

“We thought - what if we help them with their daily expenses while also giving them the ability to save and invest? Maybe that’s the missing piece,” she said.

Beyond survival, Wachori stresses the need for long-term financial empowerment. A partnership with other actors who have provided financial literacy training and microloans to women and youth-led enterprises.

“We gave them an opportunity to build trust with banks, access small loans, and start working towards financial independence. And we saw real change,” she shared.

Sakwa Masai, Oxfam Kenya’s Private Sector Engagement Advisor, echoed these sentiments, asserting that gender must be central to economic policies. He pointed to barriers women face in business - limited access to capital, business networks, and skills development.

“Men have easier access to resources - capital, assets, and networks that fuel business growth. Women, on the other hand, struggle to make their businesses finance-ready, which limits their ability to expand,” said Masai.

He also underscored the impact of unpaid care work, where women spend, on average, 3.5 hours more than men daily, restricting their ability to engage in economic activities. He called for gender-inclusive workplace policies, such as flexible work arrangements, breastfeeding rooms, and paid parental leave.

Recognizing the need for sustainable economic solutions, James Odede, co-founder and Chief Technology Officer of Aquarech, is reshaping Kenya’s fish farming sector by providing financing, market access, and training. They offer fish feed on credit, allowing farmers - many of them women - to pay after harvest.

As Kenya faces an influx of Chinese fish imports, Odede emphasizes that affordable local fish feeds can boost domestic production and improve women’s participation in agriculture.

Rethinking aging: Women, caregiving, and health

Grace Wachori also spoke about the emotional and psychological toll that financial instability and aging have on individuals, particularly those in the workforce.

“When you’re young, you’re focused on independence. In middle age, you think about legacy and work tirelessly, often neglecting self-care. Many give their best years to employers without planning for later life,” she observed.

As retirement approaches, financial insecurity can lead to regret, depression, and health issues. “Retirement hits many with a shock. Suddenly, they realize they have years ahead but no plan. That uncertainty causes anxiety,” she explained.

She emphasized the importance of peer support, balanced work-life practices, and mental well-being. “We need to help people transition, connect them to opportunities, and ensure they maintain holistic health—physical, mental, and financial.”

Dr. Mary Nyamongo, a seasoned researcher, has seen firsthand how aging, financial instability, and caregiving intersect. Having started her career at the Kenya Medical Research Institute (KEMRI), she transitioned into non-communicable disease (NCD) research in 2004, a journey that reshaped her perspective.

“For many years, we believed that NCDs were diseases of the wealthy—people with money, people who eat poorly. But over time, I realized these diseases affect everyone, regardless of their background,” she explained.

Now approaching her 60th birthday, Nyamongo is organizing a run to mark this milestone, driven by personal experience.

“I have witnessed the struggle firsthand—my mother battling an NCD, my siblings growing older, and my role as a caregiver intensifying. When a woman reaches 50, menopause sets in, and her body changes. If she has parents, they are aging. Their health declines. Life becomes harder for them. They need care and support,” she shared.

In Kenya, life expectancy hovers around 66 years, meaning many women in their 50s are primary caregivers for elderly parents. Data from the Kenya National Bureau of Statistics reveals that 50% of elderly Kenyans rely on family support due to a lack of pensions or social security. The burden of unpaid care work falls disproportionately on women, who spend three times more hours on caregiving than men.

“The responsibility is immense. Many women struggle financially while managing these caregiving duties. Some face their own health challenges. The exhaustion is overwhelming—you go to work tired, take your parents to the hospital, and realize your own body is breaking down too,” Dr. Nyamongo reflected.

Wachori echoes these concerns, emphasizing that aging, menopause, and caregiving intersect to create a crisis that is often ignored.

“When you are younger, you are looking for autonomy, independence. If you don’t conquer that challenge, you get stuck. But as you progress to middle age, the focus shifts—you start thinking about your legacy. That’s when people work the hardest, sacrificing their own well-being in the process. By the time they hit senior adulthood, they start reflecting: What did I do with my strength? What am I leaving behind? And this can either bring a deep sense of fulfillment or immense regret,” Wachori explains.

She emphasizes the need for structured interventions tailored to different age groups. “Many aging individuals struggle to adapt to the fast-changing digital world, AI, and new work environments. They need guidance to figure out where they fit in this evolving landscape.”

Time for change: Policy and social support

Both Wachori and Nyamongo stress that caregiving and aging should not be individual struggles. Structural support is needed to ensure a dignified life for older adults. Some critical steps include:

• Expanding pension and social security systems to reduce financial dependency on families.
• Creating workplace policies that acknowledge and support employees going through menopause.
• Developing caregiver support programs that offer financial aid, mental health services, and respite care.
• Encouraging intergenerational mentorship so that aging individuals remain connected and engaged in society.

Aging should not be a lonely, painful journey. It’s time to shift the narrative and build a society that values and supports people at every stage of life. By closing the gender finance gap, providing women with essential financial tools, and addressing systemic barriers, Kenya—and Africa at large—has the potential to unlock a more sustainable, inclusive, and prosperous economy.