Being the biggest country in West Africa, Mali is rich in agriculture (cotton), gold and mineral resources. With international assistance and recovery in certain sectors such as cotton production and the mining sector, Mali is expected to return to positive growth momentum soon.
Africa HR Solutions can assist your expansion in Mali by providing end-to-end employment outsourcing solutions. Our Mali HR outsourcing services include Professional Employer Organisation (PEO), Employer of Record, payroll, and other ancillary support services to help you with your expansion strategy, whether or not you have a registered entity in Mali yet.
Country Profile - Mali
Population: 19.1 mn
Gross Domestic Product (GDP): $11.96 bn
GDP Growth: 4.9%
Foreign Direct Investment (% of GDP): 2.1%
Unemployment Rate: 9.6 %
Currency: West African CFA franc
Being a Sahelian economy, Mali is known for being a low-income country, faced with a lack of diversification and fragile to fluctuations in commodity prices. The Covid-19 pandemic and socio-political challenges have led the country into a recession, whereby GDP has contracted by 2% last year. With a decline in global demand and supply challenges, some key sectors also suffered, including the cotton production and agricultural industries. Being an oil-importing economy, Mali enjoyed lower crude prices while higher gold prices last year contributed to an increase in export revenue. The World Bank has invested in diverse projects related to food security, livestock farming, water supply and climate change.