Considered as one of the best-ranked countries in sub-Saharan Africa according to governance indicators, Cape Verde has a stable political system and continues to invest in several industries to boost its economy in various sectors following the impact of the COVID-19 pandemic. Investments are expected to be focused on sectors such as tourism, infrastructure, supporting local businesses, and stimulating inclusive growth.
As many organisations expand their international reach, they look for ways to minimise the hassle of understanding and managing complex local matters relating to legal requirements, cultural norms and labour policies. A popular solution is to engage the services of reliable local partners who specialise in business process outsourcing, including employment outsourcing solutions where resources need to be employed in-country and paid accordingly.
Africa HR Solutions’ Cape Verde HR outsourcing services can be used to add value you to your international growth plans. As a specialist HR service provider, we help manage elements relating to taxation, social security, compensation schemes, together with end-to-end immigration requirements for expatriates deployed to Cape Verde, whether you have a subsidiary in the country or not. Our employment outsourcing solutions are legally compliant and include services such as Professional Employer Organisation (PEO), Employer of Record, payroll processing, as well as a range of ancillary support services.
Country Profile - Cape Verde
Gross Domestic Product (GDP): $1.94 B
GDP Growth: 7.0 %
Inflation: 1.9 %
Foreign Direct Investment (% of GDP): 4.3 %
Unemployment Rate: 15.4 %
Currency: Cape Verdean escudo
Cape Verde's Economy
According to the World Bank, Cape Verde is one of the best-ranked countries in Sub-Saharan Africa in terms of governance protocols and efforts to fight corruption. It has one of the best business climates in the region but still suffers from a lack of infrastructure and the absence of regulations governing insolvency. The country usually attracts foreign direct investment from European countries such as Portugal, Italy, Spain and the United Kingdom, however, the COVID-19 pandemic constricted investment-related projects. Going forward, Cape Verde is focusing on increasing investment in several sectors including tourism, technology, energy, infrastructure, and transport.
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