Background: Older people living with HIV (OPLWH) require significant levels of support, including healthcare and rehabilitation interventions. People living with HIV are living longer, but still experience health-related impairments that affect functional activity, participation in day-to-day interactions, livelihoods and overall quality of life. Physical activity and exercise should be included as part of the comprehensive medical management for OPLWH but often a gap exists in understanding and prescription. Our study aimed to explore the perceptions of OPLWH about physical activity and exercise. Methods: The study adopted a phenomenological, qualitative design, using in-depth interviews, to understand OPLWH perceptions of physical activity and exercise, and their need for, and access to, physical activity and exercise programmes in a community in South Africa. Results: Sixteen individuals voluntarily participated in face-to-face, semi-structured interviews which took place the healthcare facility where they received regular treatment. All participants were 50 years and older. The interview data revealed three overarching themes, namely: motivation for physical activity and exercise; barriers to physical activity and exercise; and proposed structure of physical activity and exercise. Conclusion: The qualitative nature of our study provided an in-depth understanding of the perceptions of OPLWH about physical activity and exercise. Our study highlighted the interplay between motivating factors and barriers, and the structural components of physical activity and exercise, that can possibly influence the design and implementation of a physical activity intervention programme for OPLWH.