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.
Interesting Facts About Mali
The outstanding Grand Mosque of Djenne is the biggest man-made clay structure in the world
Gold is mined in the country’s southern area and contributes to the 3rd top total gold production in all of Africa, after South Africa and Ghana
The country exports phosphates, salt, limestone, uranium, and granite
Agriculture is known to be the second-highest source of revenue after mining
The national dish of Mali is ‘Tiguadege Na’, meaning ‘meat in peanut butter sauce’. This dish is usually prepared with lamb or chicken.
Public Holidays in Mali
New Year’s Day
The Prophet’s Birthday
Employment in Mali
It is recommended to have a strong employment agreement in Mali. Agreements can be in both verbal or written formats in Mali. Most employees prefer a written agreement that describes all related information about their job, that is their monthly wage, compensation, leaves, bonus if applicable as well as termination details. Being the HR outsourcing expert across Africa, Africa HR Solutions craft a comprehensive offering to ensure your move to Mali is smooth and complies with all local laws and policies. Our dedicated team also assists you in devising a competitive benefits scheme to attract the right talent to your company while you focus on running your business with peace of mind.
Central African Republic
Democratic Republic of Congo
Republic of Congo
Sao Tome and Principe