ERITREA
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About Eritrea
Page Last Updated: 28/05/2024
Eritrea, situated in the Horn of Africa, holds significant potential for businesses seeking opportunities in this dynamic region. With its strategic location and diverse economy, many companies are exploring the prospects that Eritrea offers. If your company is considering expansion into Eritrea but requires assistance navigating local regulations, customs, or employment procedures, Africa HR Solutions is here to help. Our comprehensive support services ensure a seamless and compliant expansion, allowing you to focus on maximizing your business potential in Eritrea.
Population: 3.5 M
Gross Domestic Product (GDP): $1.98 B
GDP Growth: 3.8%
Inflation: 1.3%
Foreign Direct Investment (% of GDP): 1.89%
Unemployment Rate: 5.9%
Capital: Asmara
Currency: Eritrean Nakfa (ERN)
Languages: Tigrinya, Arabic, English
Gross Domestic Product (GDP): $1.98 B
GDP Growth: 3.8%
Inflation: 1.3%
Foreign Direct Investment (% of GDP): 1.89%
Unemployment Rate: 5.9%
Capital: Asmara
Currency: Eritrean Nakfa (ERN)
Languages: Tigrinya, Arabic, English
Eritrea Payroll at a Glance
Currency
Eritrean Nakfa (ERN)
Income Tax
2% – 30%
Employer Taxes
N/A
Employee Contribution
N/A
Fiscal Year
1 January – 31 December
Date Format
yyyy/mm/dd or dd/mm/yyyy
- In addition to minerals, Eritrea has significant agricultural potential, with fertile lands suitable for the cultivation of crops such as sorghum, millet, and vegetables.
- Eritrea has a rich cultural heritage influenced by its diverse ethnic groups. Traditional music, dance, and cuisine are integral parts of Eritrean culture.
- Eritrea has made significant strides in improving healthcare access and infrastructure, with the government providing free basic healthcare services to its citizens.
- Eritrea has a diverse climate, with highland areas experiencing temperate weather and coastal regions having a hot and arid climate. Rainfall is generally low and erratic.
- Education is free and compulsory for children aged 7 to 13, although access to quality education remains a challenge in some areas, particularly in rural areas.
- New Year
- Orthodox Christmas Day
- Women’s Day
- Good Friday
- Easter Day
- International Workers’ Day
- Independence Day
- Martyrs’ Day
- Eid al-Fitr
- Commencement Day of Eritrean Armed Struggle
- John the Baptist Day
- Geez New Year
- Eid al-Adha
- Meskel
- The Prophet’s Birthday
- Christmas Day
Trusted by Inspiring Changemakers.
Africa HR Solutions is for us everything what we have hoped for. Customer- and people oriented, fast and always willing to think along and find the best possible solution. We get professional services and an exceptional single point of contact.
Mirèl SoerNutreco - Middle-East & Africa 
Africa HR Solutions has been a great partner to our organisation, allowing us to quickly expand and operate in new markets while they flag and support management of compliance and risk issues. We now use Africa HR Solutions for support in some capacity in 8 of our geographic locations.
Hilary HanbidgeDirector - VillageReach 
Africa HR Solutions has taken the stress out of compliance - we no longer have to worry about changing regulations. Their team is professional, knowledgeable, and always available. Payroll runs smoothly, which saves us valuable time and our staff appreciates being paid on time! Kudos to the team!
SheilaDirector - Non-Profit Organisation 
Africa HR Solutions is responsive, proactive, and accommodating, even with the time difference. In fact, it works in my favor—they have time to handle tasks before I start my day. Our payroll, especially in Senegal, is complex, but their attention to detail and willingness to go the extra mile definitely stand out.
AldoPayroll and Data Manager - Non-Profit Organisation 
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