Whilst Comoros’ economy is currently focused on subsistence agriculture, with the collaboration of the government, civil society, and various other institutions, the Plan for Emerging Comoros has been established with the aim to strengthen disaster recovery and resilience, improve the business environment and governance, and improve connectivity.
International organisations expanding into new countries usually engage the services of reputable partners who specialise in local business process outsourcing, including employment outsourcing solutions where staff need to be employed in-country and paid correctly. An experienced provider of Comoros HR outsourcing and employment outsourcing services will be well placed to navigate the complexities associated with the local legal requirements and cultural norms.
At Africa HR Solutions, our Comoros HR outsourcing solutions include services such as Professional Employer Organisation (PEO), Employer of Record, payroll outsourcing together with ancillary support services, and our in-country experts allow your organisation to focus on its core strategy and expansion plans.
Country Profile - Comoros
Gross Domestic Product (GDP): $1.19 bn
GDP Growth: 0.2 %
Inflation: 1.1 %
Foreign Direct Investment (% of GDP): 14.57 %
Unemployment Rate: 3.7 %
Currency: Comorian franc
Languages: French, Arabic, Comorian
Comoros is one of the world’s poorest and smallest economies and comprises three islands that are hindered by weak transportation connections, an increasing population, and limited natural resources. The workforce is focused on nurturing a subsistence economy due to its low level of education. The key sectors of the economy where most of the workforce are involved are agriculture, fishing, hunting, and forestry, which contribute an estimate of 50% of GDP. Income from exports is mainly dependent on three major agricultural crops, namely vanilla, cloves and ylang-ylang (perfume essence).
Interesting Facts About Comoros
Islam is the religion of the majority of the population in Comoros.
The primary trading countries are the United States, France, Singapore, Turkey, Germany, South Africa, Kenya, UAE, Italy, Pakistan, and Mauritius.
Rice and other foodstuff, consumer goods, petroleum products, cement, and transport equipment are amongst the common imports.
Subsistence agriculture and fishing are the major sources of revenue for the inhabitants.
Comoros is the world’s largest producer of ylang-ylang, which is valued for the perfume extracted from its flowers.
There are 146 bird species, of which 14 are endemic and 6 have been introduced by humans.
Public Holidays in Comoros
New Year’s Day
Cheikh al Maarouf
Eid al Fitr
Eid al Adha
Employment in Comoros
Besides agriculture and fishing, Comoros has a developing tourism sector, attracting visitors to the country due to its coastal beauty. With an increasing population and investments to boost the economy, the country is unlocking other sectorial opportunities for the labour force.
Employees are entitled to vacation, sick and parental leave. Regarding taxation for employees, it operates under the ‘Pay As You Earn’ (PAYE) system with tax rates varying from 0-30% depending on the income amount. Regarding termination, employers can end an employee’s job if they have a genuine reason with regards to their conduct or ability to work. Any termination without notice or before notice is provided must be compensated with the worker’s salary and related benefits. There are also other procedures to be followed after discussion with the Consultative Council of Labour and Employment (CCTE) about severance and redundancy wage.
At Africa HR Solutions, our specialists are well placed to manage all your Comoros employment outsourcing and payroll requirements. We also assist our clients with designing the most appropriate employee benefits scheme to help attract and retain the talent required to meet your business objectives, whilst taking into consideration in-country regulations and customary practices.
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